Pinterest stock sank after its sales guidance underwhelmed. Analysts remain bullish on Amazon and Google partnerships.
Pinterest (PINS) shares slumped about 16% Friday morning after the social media company's third-quarter net income fell short of estimates.
Advertisers still don't seem to be taking to this platform as hoped.
Pinterest reports a top-line expansion year over year, driven by solid user engagement across all regions.
Pinterest (PINS) shares slumped Friday morning after the social media company's third-quarter net income fell short of estimates despite a narrow revenue beat.
Pinterest (PINS) shares are falling premarket after the social media stock issued weaker-than-expected revenue guidance. Meanwhile Airbnb (ABNB) says it is seeing "strong demand," but investors are selling the stock after an initial pop on Thursday.
Pinterest's Q3 earnings beat expectations, but sluggish U.S. user growth and declining ad pricing led to a >10% drop after-hours. I am downgrading Pinterest to a sell due to weaker user growth, lack of a competitive moat, and potential negative impacts from increased ad load. Despite 18% y/y revenue growth, ad pricing fell 17% y/y, raising concerns about the sustainability of Pinterest's monetization strategy, especially overseas.
Shares in the social-media platform are already down 8% this year, as of Thursday's close.
Although the revenue and EPS for Pinterest (PINS) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Pinterest (PINS) came out with quarterly earnings of $0.40 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to earnings of $0.28 per share a year ago.
Pinterest Inc.'s stock tumbled 14% in after-hours trading Thursday after the company, which operates a platform for photo and video sharing, posted third-quarter earnings showing a slim revenue beat.
Pinterest stock tumbled Thursday, despite the social media company reporting a Q3 earnings and sales beat. The post Pinterest Stock Tumbles Despite Earnings Beat appeared first on Investor's Business Daily.