Pinterest (PINS) Q2 earnings missed analyst estimates, stock fell 15%.

From CNBC: 2024-07-30 17:14:24

Bill Ready, CEO of Pinterest, rang the opening bell at NYSE on May 15, 2024. Pinterest shares fell 15% after reporting Q2 earnings below analyst estimates. Revenue was $854 million, EPS was 29 cents adjusted, and net income was $9 million. Pinterest expects Q3 sales of $885-900 million with 522 million monthly active users globally. ARPU was $1.64 for Q2. Technology, autos, and financial services sectors showed strength in online advertising, while food and beverage advertisers faced challenges. Pinterest reported stable ad market conditions compared to the previous quarter. Alphabet reported Q2 revenue of $84.74 billion, surpassing estimates, but YouTube ad sales fell short. Meta and Snap are set to report earnings soon.



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