Getty Images reported revenue growth and net income in second quarter 2024, returning to growth

From GlobeNewswire: 2024-08-09 08:00:00

Getty Images Holdings, Inc. reported a revenue growth of 1.5% in the second quarter of 2024, with a currency-neutral growth of 2.1%. Editorial business saw a strong growth of 4.1%, and annual subscription revenue increased by 5.2%, now representing 52.9% of total revenue. The company returned to growth driven by subscriber growth and partnerships.

The net income for the quarter was $3.7 million, compared to a net loss of $4.3 million in the same period last year. Getty Images remains fiscally conservative, investing in business and confident in returning to full-year topline growth. Key performance indicators show growth in active annual subscribers and paid download volume.

Getty Images highlights include coverage of the Paris 2024 Olympics, partnership with NVIDIA to launch updated generative AI model, and renewed partnerships with Canva and PicsArt for responsible AI. Financial outlook for full year 2024 includes revenue guidance of $924 million to $943 million and adjusted EBITDA guidance of $290 million to $294 million. Investors can access a webcast and conference call on August 12, 2024, to discuss the results.



Read more at GlobeNewswire:: Getty Images Reports Second Quarter 2024 Results