Shutterstock reports Q4 adjusted EPS $1.05, consensus 95c

Reports Q4 revenue $217.7M, consensus $205.02M. CEO Paul Hennessy said, "I am delighted to report that Shutterstock achieved record revenues and EBITDA in the fourth quarter. For the full year 2022, we grew revenues by 7% and Adjusted EBITDA by 13% while expanding our Adjusted EBITDA margin to 26.3%. This marks the third consecutive year we have expanded our margins and in turn rewarded our shareholders with an increased dividend. Shutterstock has now fully integrated generative AI into our Creative Flow platform across all of our products, sales channels, geographies, and languages, and we have established major AI ecosystem partnerships leveraging our massive content library. I could not be any more excited about the rapid technology change we are experiencing in our industry and Shutterstock’s unique ability to reward our contributors for participating in this historic technology evolution around generative AI."