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Why Pinterest Shares Are Falling After Hours

Benzinga2022-05-24

Pinterest Inc shares are falling in Monday's after-hours session after Snap Inc filed a Form 8-K with the U.S. Securities and Exchange Commission showing the company expects to miss its previously-issued guidance.

"The macroeconomic environment has deteriorated further and faster than anticipated," Snap said in the filing. As a result, the company now expects to report second-quarter revenue and adjusted EBITDA "below the low end" of its guidance range.

Last month, Snap guided for second-quarter revenue growth of 20% to 25% year-over-year. The company said it expected adjusted EBITDA to be between breakeven and $50 million.

Pinterest and Snap both operate social media platforms. Pinterest offers a visual discovery engine where people find inspiring creators, shop new products and seek out ideas to take offline.

PINS Price Action: Pinterest shares have traded between $18.32 and $81.77 over a 52-week period.

The stock was down 11.91% in after hours at $19.9.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment14

  • Cam20
    ·2022-05-24
    [Cool] 
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    • Cam20
      [Cool]
      2022-05-24
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    • Cam20
      [Cool][Cool]
      2022-05-24
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    • Cam20
      [Grin]
      2022-05-24
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  • Bodoh
    ·2022-05-24
    Still 14b market cap
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  • Asphen
    ·2022-05-24
    Snap has halted PINS recent recovery! 
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    • NewbieEP
      Yes unfortunately
      2022-05-24
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  • YCGan
    ·2022-05-24
    Noted
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  • SSVC
    ·2022-05-24
    K
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  • tongfee
    ·2022-05-24
    GG 
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  • seetees
    ·2022-05-24
    Like p
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  • AlanChia
    ·2022-05-24
    Bad bad news
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  • Tik Tick
    ·2022-05-24
    Sad
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  • Tik Tick
    ·2022-05-24
    Great ariticle, would you like to share it?
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  • Williamw
    ·2022-05-24
    Ok
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  • TaiJin
    ·2022-05-24
    [Miser] 
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    • Lichiun
      like
      2022-05-24
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  • ccy1122
    ·2022-05-24
    [Warning] [Warning] [Warning] [Observation] [Observation] [Observation] 
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    • Williamw
      Ok
      2022-05-24
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  • Victorhc88
    ·2022-05-24
    Like 
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    • Tik Tick
      done
      2022-05-24
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