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- Pinterest reported better-than-expected earnings and revenue for the second quarter.
- However, its forecast for the current period was only in line with estimates.
watch nowVIDEO00:59Pinterest shares fall more than 7% on revenue guidanceClosing Bell: Overtime
Pinterest shares fell 7% in extended trading on Tuesday after the company reported better-than-expected earnings and revenue but issued lukewarm sales guidance.
Here’s how the company did, compared to analysts’ consensus estimates from LSEG:
- Earnings per share: 43 cents adjusted vs. 36 cents expected
- Revenue: $1.18 billion vs. $1.15 billion expected
Sales rose 18% from $998.2 million a year earlier, while the company’s net loss for the period was $47 million, a loss of 8 cents per share, Pinterest said in a statement. The social media company posted net income of $38.76 million, or 6 cents per share, a year ago.
“Our Q2 results reflect the scale and strength of our platform,” Pinterest CEO Bill Ready said in the release.
Revenue this quarter should come in between $1.19 billion and $1.21 billion. The midpoint of $1.2 billion was in line with analyst expectations. The guidance “assumes a modest headwind from foreign exchange based on current spot rates,” Pinterest said.
Adjusted earnings for the quarter of $311 million, topped analyst projections of $270 million, according to StreetAccount.
The company’s global monthly active users, or MAUs, jumped 11% year-over-year to 640 million, beating estimates of 635 million.
Global average revenue per user, or ARPU, was $1.86, ahead of projections.
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Pinterest stock chart.
WATCH: Why Pinterest CEO Bill Ready made his toughest call — and why it paid off.
watch nowVIDEO40:11How an early business lesson shaped Pinterest CEO Bill Ready’s toughest callExecutive Decisions with Steve SedgwickChoose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
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