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Shutterfly profit falls as expenses climb
February 5, 2014 / 9:31 PM / 4 years ago

Shutterfly profit falls as expenses climb

Feb 5 (Reuters) - Online photo-sharing services provider Shutterfly Inc reported an 18 percent fall in quarterly profit due to higher expenses, sending its shares down 9 percent after the bell.

The company’s profit fell to $43.6 million, or $1.10 per share in the fourth quarter ended Dec. 31, from $53.0 million, or $1.40 per share, a year earlier.

Revenue rose 17 percent to $410.8 million.

Operating expenses rose 27 percent to $141.5 million. (Reporting by Sampad Patnaik in Bangalore; Editing by Sriraj Kalluvila)

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