Pinterest reported adjusted earnings per share of 43 cents, surpassing the expected 36 cents, and revenue of $1.18 billion, slightly above the anticipated $1.15 billion. Despite these positive results, the company projected revenue for the next quarter to be between $1.19 billion and $1.21 billion, with the midpoint aligning with analyst expectations.
However, the guidance includes a note about potential foreign exchange headwinds, which could dampen investor sentiment. The company's net loss for the period was $47 million, or 8 cents per share, compared to a net income of $38.76 million, or 6 cents per share, a year earlier.
Pinterest's global monthly active users increased by 11% year-over-year to 640 million, exceeding estimates of 635 million, and the average revenue per user reached $1.86, also above projections. CEO Bill Ready emphasized the strength of the platform in the earnings release, but the lukewarm sales outlook may overshadow the positive metrics, leading to the decline in stock price