Getty Images Q2 revenue falls on Agency and iStock segment pressure; withdraws guidance
GETY•Shift toward subscriptions
Getty Images said annual subscription revenue grew to 58.8% of total revenue, up from 53.5% a year ago.
Q2 results and guidance withdrawal
Getty Images said second-quarter revenue fell 2.5% year over year to $229.1 million. Adjusted EPS for the quarter was negative, and adjusted EBITDA declined 8.4% year over year to $62.3 million.
The company withdrew financial guidance amid an ongoing evaluation of strategic financing alternatives.
Quarterly metrics and analyst view
| Metric | Actual | Consensus Estimate |
|---|---|---|
| Q2 Revenue | $229.1 million | $237.29 million |
| Q2 Adjusted EPS | -$0.05 | $0.02 |
| Q2 Net Loss | $85.8 million | |
| Q2 Adjusted EBITDA | $62.3 million | $70.95 million |
| Q2 Adjusted EBITDA Margin | 27.2% |
The current average analyst rating on the shares is buy, with 1 strong buy or buy, 2 hold, and no or ratings. The median 12-month price target is , about above the August 7 closing price of .
