Shutterfly Lowers Q4 Forecast

Shutterfly Inc 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.