Shutterstock Reports Third-Quarter Revenue of $173.9 Million and EPS of ($5.35)
Third-quarter revenue fell 33% year over year, and Shutterstock swung to a net loss from income a year earlier. Lower new-customer acquisition weighed on Content, while Data, Distribution and Services declined sharply, primarily due to its data offering; the company recorded a $203.3 million goodwill impairment.
Shutterstock’s third-quarter revenue fell 33% year over year, and it swung to a net loss from income a year earlier. Lower new-customer acquisition weighed on Content, while Data, Distribution, and Services declined sharply, primarily due to its data offering; a $203.3 million goodwill impairment a…