Pinterest Stock News

Pinterest, Inc. (NYSE:PINS ) Q2 2024 Earnings Call Transcript July 30, 2024 4:30 PM ET Company Participants Bill Ready - Chief Executive Officer Julia Donnelly - Chief Financial Officer Andrew Somberg - Vice President, Investor Relations & Treasury Conference Call Participants Ross Sandler - Barclays Colin Sebastian - Baird Eric Sheridan - Goldman Sachs Ron Josey - Citi Mark Mahaney - Evercore ...

Q2 2024 revenue was $854 million, exceeding the upper end of management's guidance of $850 million. Monthly active users (MAUs) grew 12% year-over-year to 522 million.

Pinterest stock sank late Tuesday as Q2 earnings beat expectations but the company gave lower than expected guidance.

Pinterest reported second-quarter earnings on Tuesday, and the social media company beat on both the top and bottom. The company's third-quarter sales total is projected to range from $885 million to $900 million, which equates to about 16-18% year-over-year growth.

Pinterest forecast current-quarter revenue below Wall Street expectations on Tuesday, hurt by tough competition from larger social media platforms in a stabilizing digital advertising market.

Pinterest is reportedly seeking help from news outlets and other publishers in selling ads. The social media platform is testing a new program to sell ads on Pinterest pages using an ad auction system, according to a report Monday (July 29) by Seeking Alpha, which itself cited a paywalled story by The Information.

Pinterest Inc (NYSE:PINS) is expected to meet or beat Wall Street's estimates for the second quarter with its revenue outlook for the current quarter seen as the “biggest risk” to the stock, Bank of America analysts believe. The social media platform will report its Q2 earnings on Tuesday, July 30 after the stock market closes.

Social media stocks have been pulled lower by the rotation out of technology securities. However, social media remains a force both in society and the market.