Shutterfly Lowers Q4 Forecast
Shutterfly Inc (NASDAQ: SFLY) lowered its forecast for fourth-quarter revenue and pretax profit.
Shutterfly projects Q4 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $84 million to $88 million, versus its earlier forecast of $96.3 million to $101.1 million. It expects revenue of $259 million to $264 million, versus its earlier estimate of $270.5 million to $275.5 million. However, analysts were expecting EBITDA of $95.6 million on revenue of $267.8 million.
Shutterfly shares closed at $25.10 yesterday.
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