Shutterstock Shares Plunge Amid Earnings Miss and Merger Uncertainty

Shutterstock investors faced a sharp selloff as the stock tumbled nearly 10% to $22.62 following a quarterly report that revealed significant challenges. The content platform delivered a mixed performance with revenues exceeding expectations but profits falling short, while simultaneously confronting regulatory hurdles in its planned Getty Images acquisition.

The company’s third-quarter financial performance presented contrasting narratives across its business segments. While total revenue climbed 3.8% to $260.1 million, surpassing analyst projections, the bottom line told a different story. Adjusted earnings per share reached $0.99, substantially below the $1.15 consensus estimate.

A deeper examination reveals the source of this divergence. Shutterstock’s core content business experienced a 5% contraction, generating $194.4 million compared to the same period Read more...