RTTNews | Feb 11, 2021 10:41AM EST

10:40 Thursday, February 11, 2021 (RTTNews.com) - Shares of stock photography company Shutterstock, Inc. (SSTK) are rising more than 17% Thursday morning after reporting upbeat fourth-quarter results. The company also provided full-year 2021 outlook, better than the Street view.

Earnings in the fourth quarter were $0.58 compared with $0.70 per share in the same quarter a year ago.

Excluding items, adjusted earnings were $0.67 per share, that beat the average estimate of analysts polled by Thomson Reuters at $0.60 per share. The company reported 45% growth in Subscribers at 281,000.

Revenue for the quarter increased 9% to $180.9 million on 18% growth in subscriber revenue. The consensus estimate was for $174 million.

Looking forward to the full year 2021, the company expects revenue to be in the range of $708 million to $722 million and adjusted EPS to be between $2.75 and $2.90. Analysts expect the company to report earnings of $2.41 per share on revenue of $706.69 million for the period.

SSTK hit a new 52-week high of $81.65 this morning.

Read the original article on RTTNews ( https://www.rttnews.com/3169137/stock-alert-shutterstock-adds-17-on-upbeat-quarterly-results.aspx)

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