Getty Images Reports Strong Second Quarter Earnings for FY2023
August 23, 2023
☀️Earnings Overview
On August 14, 2023, GETTY IMAGES ($NYSE:GETY) released its earnings results for the second quarter of FY2023, revealing a total revenue of USD 225.7 million, a decrease from last year’s 0.0 million. Net income was USD -4.1 million, a lower figure than the 31.7 million reported in the same quarter of the previous year.
Price History
The company’s stock opened at $4.6 and closed at the same price, down by 3.4% from the previous closing price of $4.7. Despite the dip in stock price, the company’s financials demonstrated continued progress as it further positions itself as a leading provider of visual content around the world. Despite a difficult economic environment, Getty Images has successfully grown its customer base and expanded its business. This has allowed the company to maintain strong growth despite the challenging global economic conditions.
The company’s financial results continue to show the effectiveness of its strategy and demonstrate strong performance in the second quarter of fiscal year 2023. Going forward, Getty Images is likely to continue its success and further extend its reach around the world. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Getty Images. More…
| Total Revenues | Net Income | Net Margin |
| 1.39k | -197.57 | 4.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Getty Images. More…
| Operations | Investing | Financing |
| 237.48 | -61.29 | -209.22 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Getty Images. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.47k | 1.85k | 1.42 |
Key Ratios Snapshot
Some of the financial key ratios for Getty Images are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 11.2% |
| FCF Margin | ROE | ROA |
| 10.7% | 17.0% | 3.9% |
Analysis
At GoodWhale, we have conducted an analysis of GETTY IMAGES‘s fundamentals. Based on our Risk Rating, GETTY IMAGES is a medium risk investment when it comes to the financial and business aspects. Our research has revealed two risk warnings that appear on their income sheet and balance sheet. If you are interested in learning more about these risks, become a registered GoodWhale user to check out our full report. More…
Peers
The competition between Getty Images Holdings Inc and its competitors, Outbrain Inc, JOYY Inc, and Brave Bison Group PLC, is fierce. All four companies are committed to providing excellent digital and visual services, ranging from content creation and distribution to online video production and advertising services. Each company is striving to stay ahead of the competition by offering their customers the best possible services.
– Outbrain Inc ($NASDAQ:OB)
Outbrain Inc is an advertising technology company that specializes in amplifying native and content-driven marketing campaigns. As of 2023, Outbrain Inc has a market cap of 225.12M, which reflects the company’s overall financial health and performance. Its return on equity (ROE) of -3.09% indicates that the company has been unable to generate profits for its investors. The negative ROE indicates that Outbrain Inc is not as efficiently managing its assets as other companies in its sector, but with its focus on content marketing, it may be able to change this figure over time.
– JOYY Inc ($NASDAQ:YY)
JOYY Inc is a global entertainment and lifestyle company that operates a portfolio of media and video-sharing platforms. It has an extensive network of mobile and web applications distributed across its three major brands, namely YY, Bigo Live and HUYA. As of 2023, the company has a market cap of 2.11 billion dollars, making it one of the largest entertainment companies in the world. Additionally, JOYY has a return on equity (ROE) of 7.54%, signifying its strong financial fundamentals, and demonstrating to investors that the company is able to generate returns on its equity investments.
– Brave Bison Group PLC ($LSE:BBSN)
Brave Bison Group PLC is a social media company that operates several channels and platforms, including YouTube, TikTok, and Twitter. It has a market capitalization of 37.01M, which is an indicator of its success in the market. Brave Bison Group PLC has also generated an impressive return on equity (ROE) of 10.86%, indicating that the company is extremely efficient in using its equity to generate profits. This is a positive sign for investors who are looking for companies with good financial health.
Summary
Investors in Getty Images should be aware of the company’s weak second quarter earnings results. Total revenue was USD 225.7 million, a decrease from the prior year, while net income was USD -4.1 million, a decrease from the previous year’s 31.7 million. As a result, the stock price moved down on the day of the announcement.
Despite this, Getty Images remains a stable and well-established business with a large portfolio of creative content, commercial photographs, editorial images, and videos. Therefore, investors should consider the long-term potential of the company when evaluating their investment position.
