Plus   Neg

Stock To Watch: Growing Interest In Pinterest

Shares of Pinterest, Inc. (PINS) climbed 9.63% on Tuesday, before closing at $21.51 after the new data by eMarketer showed that Pinterest has become the third-largest social media platform in the U.S., beating Snapchat. The market research firm also sees the trend continuing through 2022.

The stock has been trading in a range of $17.39 to $36.83 in the past one year. Trading volume saw a big surge yesterday at 33969898 compared with an average volume of 10,533,242.

In October last year, when the company reported its third-quarter results, revenue had grown 47% year-over-year to $279.7 million. Pinterest had earnings on an adjusted basis, of $5.96 million or $0.01 per share in the quarter compared with loss of $14.91 million or $0.12 per share in the corresponding quarter a year ago.

Global Monthly Active Users (MAUs) had risen 28% year over year to 322 million. By the end of the third quarter, Pinterest served ads to users in 28 countries, compared to seven at the end of 2018.

For the full-year, revenue is expected in the range of $1.1 billion to $1.115 billion; This compares with the Street estimate of $1.11 billion.

Fourth-quarter and full-year earnings report is expected to be published on Jan 30.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Gap Inc. partnered with fashion resale platform thredUP to facilitate the exchange of secondhand cloths. The retailer in a blog post said its customers can bring secondhand clothes in exchange for shopping credit that can be redeemed at Gap, Banana Republic, Athleta, or Janie and Jack. Customers who redeem their credits at Gap brands will receive an additional 15 percent payout bonus. Coca-Cola Co. (KO) on Friday reaffirmed its guidance for the full-year 2020 and provided an update on the expected impact from COVID-19 on first quarter 2020 results, ahead of its presentation at the Consumer Analyst Group of New York (CAGNY) Conference. For fiscal 2020, the company continues to project... Deere & Co. (DE) reported that its net income attributable to the company for the first quarter grew to $517 million or $1.63 per share from $498 million or $1.54 per share in the prior-year quarter. Net sales and revenues for the quarter declined 4 percent to $7.63 billion from $7.98 billion in the...
Follow RTT