{"id":43463,"date":"2023-08-02T08:26:17","date_gmt":"2023-08-02T12:26:17","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/pinterest-shares-fall-as-revenue-earnings-benefit-from-ads-and-user-engagement-increase\/"},"modified":"2023-08-02T08:26:19","modified_gmt":"2023-08-02T12:26:19","slug":"pinterest-shares-fall-as-revenue-earnings-benefit-from-ads-and-user-engagement-increase","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=43463","title":{"rendered":"Pinterest shares fall as revenue, earnings benefit from ads and user engagement increase"},"content":{"rendered":"
\n

Pinterest Inc.\u2019s stock were volatile in after hours trading following a surge in advertising, user engagement and some AI bets.<\/p>\n

Shares of Pinterest
\n PINS,
\n -0.10%<\/bg-quote>
\n initially spiked 9% in extended trading Tuesday after the company reported quarterly results that topped analysts\u2019 revenue and earnings estimates, but soon sank to a 4% loss. The stock ended the after-hours session down 2.8%.<\/p>\n

\n

\u201cUsers are coming back more often and engaging more deeply,\u201d Chief Executive Bill Ready said in an interview. Global monthly active users increased 8% year over year to 465\u00a0million \u2014 the best user growth performance in two years.<\/p>\n

At the same time, enhanced AI capabilities helped match consumers with shoppable content that is most relevant to them, Ready said.<\/p>\n

Thanks to a focus on cost efficiencies, Pinterest returned to adjusted EBITDA margin expansion in Q2, added Julia Brau Donnelly, who joined Pinterest as chief financial officer from Wayfair Inc.
\n W,
\n -2.53%<\/bg-quote>.<\/span>\n <\/p>\n

The image-sharing platform reported a fiscal second-quarter net loss of $34.9 million, or 5 cents a share, compared with a net loss of $43.1 million, or 7 cents a share, in the year-ago quarter. Adjusted earnings were 21 cents a share. <\/p>\n

Revenue was $708 million, compared with $666 million a year ago. Analysts surveyed by FactSet had expected on average net earnings of 12 cents a share on revenue of $696 million. <\/p>\n

Pinterest provided third-quarter revenue guidance in the high single-digits year over year without providing specific numbers. Analysts polled by FactSet are forecasting $737 million.<\/p>\n

Like Alphabet Inc.\u2019s
\n GOOGL,
\n -0.88%<\/bg-quote><\/p>\n

GOOG,
\n -0.92%<\/bg-quote>
\n Google and Facebook parent Meta Platforms Inc.
\n META,
\n +1.29%<\/bg-quote>
\n before it, Pinterest benefitted from a surge in advertising and user engagement.<\/p>\n

Shares of Pinterest have gained 19% this year, while the broader S&P 500 index
\n SPX,
\n -0.27%<\/bg-quote>
\n is also up 19% in 2023.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Pinterest Inc.\u2019s stock were volatile in after hours trading following a surge in advertising, user engagement and some AI bets. Shares of Pinterest PINS, -0.10% initially spiked 9% in extended trading Tuesday after the company reported quarterly results that topped analysts\u2019 revenue and earnings estimates, but soon sank to a 4% loss. The stock ended […]<\/p>\n","protected":false},"author":1,"featured_media":43464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-43463","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nPinterest shares fall as revenue, earnings benefit from ads and user engagement increase | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Pinterest Inc.\u2019s stock were volatile in after hours trading following a surge in advertising, user engagement and some AI bets. 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