Shutterfly Dives on Doubts Its Expansion Bet Will Pay Out
Social photos site Shutterfly followed Twitter when shares plunged more than 10% after projecting a current-quarter loss double what analysts were expecting.
At least Twitter wasn't alone in its losses Thursday. Social photos site Shutterfly followed suit, plunging more than 10% after projecting a current-quarter loss double what analysts were expecting. The company expects a first-quarter loss between 86 cents to 92 cents a share, a far wider fall than consensus of 42 cents. Management plans to increase operating expenses through the year as it acquires additional infrastructure and ramps up production of its photo album and greeting card business.
