Pinterest stock up 13% in after-hours: what happened?

October 30, 2023 03:07 PM PDT | By Invezz

Pinterest stock up 13% in after-hours: what happened? — Image source: Invezz

Pinterest stock up on encouraging outlook

Shareholders also seem to be cheering the strong guidance.

The social media and image sharing company is now calling for $982 million in revenue for its current financial quarter. In comparison, analysts were at $978 million. Bill Ready – the Chief Executive of Pinterest said in a press release on Monday:

As we lean into Pinterest’s unique differentiators as a visual search, discovery, and shopping platform, we’re finding our best product market fit in years.

He also confirmed on the earnings call that the New York listed firm had so far shown resilience in the face of economic headwinds related to the Israel-Hamas war. Pinterest stock is now up 40% versus its year-to-date low.

Watch here: https://www.youtube.com/embed/2w2xo_7h0s8?feature=oembed

Notable figures in Pinterest Q3 earnings release

Earned $6.73 million that translates to a penny per share
Had $65.2 million of loss last year (10 cents per share)
Adjusted EPS printed at 28 cents as per the press release
Revenue went up 11% year-over-year to $684.6 million
Consensus was 21 cents a share on $744 million revenue

Pinterest ended its recent quarter with 482 million monthly active users (MAUs) globally – up 8.0% versus last year. CEO Ready added in the press release:

We continued to accelerate in Q3. We’re driving strong revenue performance, robust global MAU growth, and substantial margin expansion. Our users are engaging deeply, and we’re delivering better results for advertisers.

$PINS post-earnings pop!

The social stock is surging after hours following a big beat@GuyAdami weighs in on what's next for Pinterest pic.twitter.com/xGolgGEKLj

— CNBC's Fast Money (@CNBCFastMoney) October 30, 2023

The post Pinterest stock up 13% in after-hours: what happened? appeared first on Invezz

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