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Shutterfly reports 2nd-quarter loss but tops expectations

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REDWOOD CITY, California — Shutterfly Inc. (SFLY) on Wednesday reported a loss of $23.8 million in its second quarter.

The Redwood City, California-based company said it had a loss of 63 cents per share. Losses, adjusted for amortization costs, came to 56 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of $1.05 per share.

The online photo company posted revenue of $183.9 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $179.5 million.

For the current quarter ending in September, Shutterfly expects its results to range from a loss of $1.39 per share to a loss of $1.24 per share. Analysts surveyed by Zacks had forecast an adjusted per-share loss of $1.36.

The company said it expects revenue in the range of $164.5 million to $167.5 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $159.9 million.

Shutterfly expects full-year results to range from a loss of 3 cents per share to earnings of 20 cents per share, with revenue ranging from $1.04 billion to $1.06 billion.

Shutterfly shares have climbed almost 10 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $45.70, a fall of 1.5 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SFLY at http://www.zacks.com/ap/SFLY

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Keywords: Shutterfly, Earnings Report

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