Squarespace has strong quarter, but exchange rates zap annual guidance

Quarterly revenue tops guidance, but annual guidance is reduced in the face of currency headwinds.

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Website, scheduling and online marketing company Squarespace (NYSE: SQSP) reported second quarter earnings this morning.

The company reported $212.7 million in revenue for the quarter, which was near the high end of its guidance and represents 9% year-over-year growth. But exchange rates zapped the momentum; revenue grew 12% on a constant currency basis.

The strong dollar has also forced Squarespace to reel in its annual revenue guidance. It lowered its previous revenue guidance range of $867 million to $879 million, to $857 million to $867 million.

Unique subscriptions increased 6% year over year to 4.2 million, and the average revenue per subscription also increased 6% to $204. Unique subscriptions include traditional website accounts or those with a standalone scheduling subscription, social service, or hospitality account.

Shares are down a few percentage points in early trading.

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