Plus   Neg

Stock Alert: Pinterest Climbs 28% After Q2 Results

Shares of Pinterest, Inc. (PINS), a social media web and mobile application company, are rising 28 percent or $7.16 in Friday's morning trade at $32.35 after the company reported strong user growth and its revenue for the second quarter beat analysts' estimates.

Pinterest's global monthly active users or MAUs in the second quarter grew 39 percent year over year to 416 million.

Pinterest's net loss for the second quarter narrowed to $100.75 million or $0.17 per share from $1.16 billion or $2.62 per share in the year-ago period, while analysts polled by Thomson Reuters had a consensus estimate of loss of $0.13 per share.

Revenue grew 4 percent to $272.49 million from $261.25 million in the prior-year quarter. The Street expected revenues of $251.24 million.

The company said that due to uncertainties related to the COVID-19 pandemic, it is not providing outlook for fiscal 2020 revenue or adjusted EBITDA.

Pinterest has traded in a range of $10.10 to $36.83 in the past 52 weeks.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
A new class-action lawsuit filed against Facebook accuses the company's photo and video-sharing app Instagram of illegally collecting biometric data of as many as 100 million users without their consent, according to reports. The lawsuit filed in a state court in California, alleges that Instagram uses its photo-tagging technology to create a database of users' facial features. Stein Mart, Inc. has joined the ever growing list of U.S. retailers who filed for bankruptcy protection amid the ongoing coronavirus (COVID-19) pandemic. The beleaguered off-price retailer filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Middle District of Florida. United Airlines said it is adding up to 28 daily nonstop flights this winter to Florida, in its efforts to manage the impact of COVID-19. The airline is increasing services to 'destinations where customers most want to fly'. The new round trip services will connect customers in Boston, Cleveland, Indianapolis, Milwaukee, New York/LaGuardia, Pittsburgh and Columbus, Ohio to four popular Florida...
Follow RTT