Getty Images Holdings Q4 Earnings Highlights: Revenue And EPS Miss, CEO Highlights Subscription Growth, Issues Guidance And More

Zinger Key Points
  • Getty Images reported fourth quarter revenue of $231.5 million, down 3.2% year-over-year.
  • The company announced 2023 guidance.

Content creator and image marketplace Getty Images Holdings GETY reported fourth-quarter financial results after the market close Monday. Here are the key highlights.

What Happened: Getty Images reported fourth-quarter revenue of $231.5 million, down 3.2% year-over-year. The revenue total missed a Street estimate of $242 million, according to data from Benzinga Pro.

The company reported a loss of 6 cents per share in the fourth quarter, missing a Street estimate of positive 3 cents per share.

For the full fiscal year, Getty Images reported revenue of $926.2 million, up 0.8% year-over-year.

“Today marks Getty Images’ 28th anniversary. Over those 28 years, Getty Images has focused on producing and providing high quality, exclusive and authentic content that is born from our unique expertise, creativity and partnerships,” Getty Images CEO Craig Peters said.

Peters said Getty produced “solid operation performance” in 2022 despite macroeconomic headwinds.

“We saw organic currency neutral revenue growth in each quarter underpinned by strong subscription growth, subscription renewal rates, new customer growth and increased consumption of our content.”

The company ended the year with $97.9 million in cash. The company used a portion of its cash in the year to pay off debt. Getty Images said its total debt was $1.434 billion at the end of 2022.

Related Link: 10 Short Squeeze Candidates: Getty Images, Genius Brands, MicroStrategy And More 

What’s Next: Getty Images is guiding for 2023 revenue to come in a range of $936 million to $963 million. This total would represent year-over-year growth of 1% to 4%. The Street estimate is 2023 revenue of $972.8 million according to data from Benzinga Pro.

GETY Price Action: Getty Images shares were trading down 5.95% at $4.90 after-hours Monday at the time of publication.

Read Next: Getty Images Announces SPAC Deal, Talks NFT Plans For Growth: What Investors Should Know 

Photo via Shutterstock.

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