Shutterfly Loss Narrows, Beating Analyst Predictions
Shutterfly reported a third-quarter loss of $3.3 million, or 14 cents per share, as compared to a loss of 2.7 million, or 70 cents per share, in the year-ago quarter.
The Internet-based digital photo and personal publishing firm posted a revenue rise of 54 percent, to $32.6 million -- beating Wall Street predictions for revenue and earnings.
Shutterfly shares lost as much as 10.69 percent in after-hours trade, having gained as much as 5.26 percent during regular market hours on the Nasdaq.
Analysts surveyed by Thomson Financial had called for a per-share loss of 17 cents, on revenue of $31 million.
The Web company predicts that fourth-quarter revenue will be in a range of $90.5 million to $93.5 million.