The 10-second takeaway
For the quarter ended March 31 (Q1), Shutterfly beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. GAAP loss per share increased.
Margins increased across the board.
Shutterfly logged revenue of $116.7 million. The 12 analysts polled by S&P Capital IQ hoped for revenue of $109.7 million on the same basis. GAAP reported sales were 28% higher than the prior-year quarter's $91.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.33. The nine earnings estimates compiled by S&P Capital IQ forecast -$0.09 per share. GAAP EPS were -$0.33 for Q1 against -$0.29 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 47.0%, 180 basis points better than the prior-year quarter. Operating margin was -20.5%, 40 basis points better than the prior-year quarter. Net margin was -10.6%, 40 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $119.7 million. On the bottom line, the average EPS estimate is -$0.03.
Next year's average estimate for revenue is $748.0 million. The average EPS estimate is $1.88.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 162 members out of 279 rating the stock outperform, and 117 members rating it underperform. Among 83 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 42 give Shutterfly a green thumbs-up, and 41 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Shutterfly is outperform, with an average price target of $46.50.
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