Pinterest cut nearly 15% of the company's workforce and reduced office space in January as it pushes more resources into AI.
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reported first-quarter earnings on Monday that beat on the top and bottom lines. Shares soared 17% after the report.
Here’s how the company did, compared to analysts’ consensus estimates from LSEG:
Sales in Pinterest’s first quarter rose 18% year-over-year while the company posted a net loss of $73.59 million, a loss of 12 cents per share. A year ago, the social media company posted net income of $8.92 million, or 1 cent per share.
Pinterest reported second-quarter earnings on Thursday in which it beat on sales but missed on earnings per share.
Pinterest shares tanked on Tuesday after the company reported third-quarter financial results that 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…
Third-quarter sales in the U.S. and Canada came in at $786 million, missing analyst projections.
"Many of the largest retailers have been disproportionately impacted by tariffs and have been pulling back on advertising spend,"…
The company said it's "reallocating resources" to roles and teams focused on artificial intelligence.
