Pinterest shares tanked on Tuesday after the company reported third-quarter financial results that missed on earnings per share and provided weak guidance.
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shares tanked as much as 15% on Tuesday after the company reported third-quarter financial results that missed on earnings per share and provided weak guidance.
Here’s how the company did, compared to analysts’ consensus estimates from LSEG:
Pinterest’s third-quarter sales grew 17% year over year while net income was $92.11 million, up 201% from $30.56 million a year ago during the same period.
Pinterest reported second-quarter earnings on Thursday in which it beat on sales but missed on earnings per share.
The company said it expects first-quarter sales to come in between $951 million to $971 million, trailing analyst estimates of…
Pinterest cut nearly 15% of the company's workforce and reduced office space in January as it pushes more resources into AI.
Third-quarter sales in the U.S. and Canada came in at $786 million, missing analyst projections.
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