Movement Alert｜Pinterest, Inc. Falls 7.13% in Regular Trading, Q3 Miss and Soft Q4 Outlook Weigh on Shares

Market Focus10-30 21:41

On October 30, Pinterest, Inc. fell 7.13% in Regular Trading, trading at $18.75 per share, with turnover of $54.33 million.

The move followed the company’s latest quarterly results, with third-quarter revenue and earnings both coming in below Wall Street expectations, while fourth-quarter guidance was viewed as soft.

Pinterest, Inc. reported third-quarter monthly active users of 661 million, up 10% year over year and above the 656 million consensus, but that user strength did not offset investor concern over monetization and growth. The company guided fourth-quarter revenue to $1.425 billion to $1.475 billion, implying year-over-year growth of 8% to 12%, and said the outlook includes a modest foreign-exchange headwind. Third-quarter GAAP net income was $22 million, while adjusted EBITDA was $339 million with a 29% margin.

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