Shutterstock Inc. (SSTK) on Friday reported third-quarter profit of $9.4 million.
On a per-share basis, the New York-based company said it had profit of 26 cents. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, were 40 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The online marketplace for royalty-free images and videos posted revenue of $123.1 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $128.1 million.
Shutterstock expects full-year revenue in the range of $495 million to $510 million.
Shutterstock shares have increased 68 percent since the beginning of the year. The stock has risen 91 percent in the last 12 months.