May 1, 2013 / 9:30 PM / 5 years ago

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.

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