{"id":48390,"date":"2024-08-04T09:37:50","date_gmt":"2024-08-04T13:37:50","guid":{"rendered":"https:\/\/usa.businessupturn.com\/?p=48390"},"modified":"2024-08-04T09:37:50","modified_gmt":"2024-08-04T13:37:50","slug":"pinterest-shares-plunge-nearly-15-on-weak-guidance","status":"publish","type":"post","link":"https:\/\/www.businessupturn.com\/usa\/pinterest-shares-plunge-nearly-15-on-weak-guidance\/48390\/","title":{"rendered":"Pinterest Shares Plunge Nearly 15% on Weak Guidance"},"content":{"rendered":"<p>Pinterest\u2019s shares dropped approximately 15% on Tuesday after the company reported its second-quarter earnings and provided a third-quarter revenue forecast that fell short of analyst expectations.<\/p>\n<p><strong>Key Financials:<\/strong><\/p>\n<ul>\n<li><strong>Revenue:<\/strong> Pinterest reported $854 million, surpassing the $848 million forecast.<\/li>\n<li><strong>Earnings per Share (EPS):<\/strong> Adjusted EPS was 29 cents, slightly above the 28 cents expected.<\/li>\n<li><strong>Year-over-Year Growth:<\/strong> Revenue increased by 21% from the previous year. Quarterly net income was $9 million, or 1 cent per share, compared to a net loss of $35 million, or 5 cents per share, in the same period last year.<\/li>\n<\/ul>\n<p><strong>Guidance and Analyst Reactions:<\/strong><\/p>\n<ul>\n<li><strong>Q3 Revenue Forecast:<\/strong> Pinterest expects third-quarter revenue to range from $885 million to $900 million, reflecting 16% to 18% year-over-year growth. Analysts had projected approximately $907 million.<\/li>\n<li><strong>Monthly Active Users (MAU):<\/strong> The company reported 522 million global MAUs for the second quarter, exceeding the 520.1 million forecast. Regional breakdowns included 98 million for the U.S.\/Canada, 136 million for Europe, and 288 million for the rest of the world.<\/li>\n<li><strong>Average Revenue Per User (ARPU):<\/strong> Global ARPU was $1.64, consistent with expectations. Regional ARPU figures were $6.85 for the U.S.\/Canada, $1.03 for Europe, and 13 cents for the rest of the world, slightly varying from analyst estimates.<\/li>\n<\/ul>\n<p><strong>Sector Performance and Market Trends:<\/strong><\/p>\n<ul>\n<li><strong>Strengths:<\/strong> Pinterest\u2019s advertising performance was robust in technology, autos, and financial services sectors.<\/li>\n<li><strong>Weaknesses:<\/strong> The food and beverage sector showed softness, impacted by broader industry challenges.<\/li>\n<li><strong>Market Conditions:<\/strong> CEO Bill Ready noted stability in the ad market compared to the previous quarter.<\/li>\n<\/ul>\n<p><strong>Comparative Context:<\/strong><\/p>\n<ul>\n<li><strong>Alphabet\u2019s Performance:<\/strong> Last week, Alphabet reported second-quarter revenue of $84.74 billion, exceeding expectations, though YouTube advertising sales of $8.66 billion were below forecasts.<\/li>\n<li><strong>Upcoming Reports:<\/strong> Meta is scheduled to report its second-quarter earnings on Wednesday, and Snap will follow on Thursday.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Stock Declines Following Lower-than-Expected Q3 Revenue Forecast<\/p>\n","protected":false},"author":331,"featured_media":48391,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[15041,3928],"class_list":["post-48390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-markets","tag-pinterest","tag-shares"],"reading_time":"2 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/48390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/331"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=48390"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/48390\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/48391"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=48390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=48390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=48390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}