Revenue Stagnates as Net Income Halves, Despite Strategic Moves to Bolster Future Growth
Shutterstock (SSTK) delivered earnings and revenue surprises of 18.95% and 1.56%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
Shutterstock, Inc. (NYSE: SSTK), a leading global creative platform offering high-quality creative content for transformative brands, digital media and marketing companies, today announced that it entered into a definitive agreement to acquire Envato Pty Ltd. ("Envato"), a leader in digital creative assets and templates. Envato's flagship product, Elements, is a creative subscription providing unlimited downloads of a diverse array of assets, templates and more—an intelligent creative companion