UPDATE 1-Shutterfly revenue beats estimates on photo print sales
* First-quarter loss of $0.33/shr vs est loss of $0.40/shr
* Revenue rises 28 pct to $116.7 mln vs est $109.7 mln
* Sees Q2 revenue $118 mln-$121.2 mln vs est $119.2 mln
* Shares up as much as 4 pct after market
May 1 (Reuters) - Shutterfly Inc, an online photo-sharing service, reported better-than-expected quarterly revenue helped by rising demand for photo printing, and it forecast current-quarter revenue largely above analysts' expectations.
The company's shares rose as much as 4 percent in after-market trading.
Shutterfly, which enables users to store and share images and create custom-printed photobooks, cards and albums, forecast revenue of $118 million to $121.2 million in the second quarter.
Analysts were expecting revenue of $119.2 million, according to Thomson Reuters I/B/E/S.
The company's net loss widened to $12.4 million, or 33 cents per share, in the first quarter from $10 million, or 29 cents per share, a year earlier.
Analysts had expected a loss of 40 cents per share.
Revenue increased 28 percent to $116.7 million, above analysts' expectations for $109.7 million. This is the tenth consecutive quarter that the company's revenue has beaten estimates.
Revenue at the consumer business, built around the sale of photo books, calendars and other photo-based products, rose 29 percent to $116.7 million.
Shares of the company, which competes mainly with Hewlett-Packard's Snapfish, Webshots and Facebook Inc , closed at $44.90 on the Nasdaq on Wednesday.
- IPhone emerges from 'bygone era', reviewers hail bigger handset
- On eve of secession vote, UK's fate hangs on a divided Scotland |
- Fed renews zero rate pledge, but hints at steeper rate hike path
- Boeing, SpaceX win contracts to build 'space taxis' for NASA
- Islamic State campaign tests Obama's commitment to Mideast allies