REDWOOD CITY, Calif. (AP) _ Shutterfly Inc. (SFLY) on Thursday reported a loss of $83.6 million in its first quarter.
The Redwood City, California-based company said it had a loss of $2.47 per share. Losses, adjusted for one-time gains and costs, were $2.44 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $2.53 per share.
The online photo company posted revenue of $324.7 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $323.1 million.
For the current quarter ending in July, Shutterfly said it expects revenue in the range of $469 million to $479 million.
The company expects full-year earnings to be 61 cents to $1.11 per share, with revenue ranging from $2.13 billion to $2.21 billion.
Shutterfly shares have increased roughly 5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $42.21, a decrease of 49 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SFLY at https://www.zacks.com/ap/SFLY