Pinterest shares fall on lukewarm sales guidance
📰 source: cnbc_topnews · 💼 business
pinterest shares fell 7% in extended trading tuesday after the company beat on earnings and revenue but issued lukewarm sales guidance for the third quarter.
pinterest reported adjusted earnings per share of 43 cents, beating the 36 cents expected, and revenue of $1.18 billion, above the $1.15 billion forecast. sales rose 18% from $998.2 million a year earlier. but the company posted a net loss of $47 million, or 8 cents per share, versus net income of $38.76 million a year ago. ceo bill ready said the results reflect the scale and strength of the platform.
for the current quarter, pinterest guided revenue between $1.19 billion and $1.21 billion, with the midpoint of $1.2 billion in line with analyst expectations. cfo julia donnelly cited the shift of amazon's prime day from q3 to q2 and the world cup ending as headwinds. adjusted earnings of $311 million topped projections of $270 million, while global monthly active users rose 11% to 640 million, beating estimates. average revenue per user was $1.86, also ahead.
why it matters: beat on earnings but soft q3 guidance sends pinterest shares down, signaling growth worries despite strong user numbers.
source: cnbc_topnews
sentiment: -0.30 · impact: 0.50