Pinterest Inc.
$
19.99
Pinterest is extending gains after reporting second quarter financial results. Revenue rose 9% to $665.9 million, which just missed analysts’ estimate of $667 million, according to IBES data from Refinitiv.
The social media company posted a net loss of $43.1 million, or 7 cents per share, compared to profit of $69.4 million, or 10 cents per diluted share, in the prior year quarter. Pinterest accelerated its investment in shopping and ecommerce this quarter.
Global Monthly Active Users (MAUs) decreased 5% year over year to 433 million, down 5% from a year ago. Average revenue per user rose 17% to $1.54.
The company expects revenue will grow by the mid-single digits next quarter.
