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HomeBusinessMissing Q4 earnings revenue for Getty Images Holdings (GETY) but Outlook Looks...

Missing Q4 earnings revenue for Getty Images Holdings (GETY) but Outlook Looks Positive

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$231.5 million was Getty Images (GETY) fourth-quarter income, a 3.2% decrease from the previous year.

The business missed the Street estimate of a profit of 3 cents per share in the fourth quarter, reporting a loss of 6 cents per share.

Getty Images recorded revenue of $926.2 million for the entire fiscal year.

Despite macroeconomic headwinds, Getty achieved “solid operation success” in 2022, according to CEO Craig Peters.

“We experienced organic revenue growth that was currency neutral in each quarter, driven by robust subscription growth, subscription renewal rates, new customer growth, and rising content consumption,” the company said.

The company had $97.9 million in cash at the conclusion of the year. In the year, the business paid down debt in part with its cash. By the end of 2022, Getty Images estimated that its overall debt would be $1.434 billion.

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