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- Pinterest beat Wall Street’s expectations for its second quarter of 2019 and its stock has jumped more than 12% in after-hours trading.
- According to its CEO Ben Silbermann, the company reached 300 million monthly active users (or, MAUs) by the end of the second quarter as well.
- Pinterest’s $261 million in revenues for Q2 2019 was higher than analysts anticipated and up 62% from the same period the year prior.
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Pinterest beat Wall Street’s expectations for its second quarter of 2019 and its stock has jumped more than 12% in after-hours trading.
On Thursday, Pinterest — in its second ever earnings report since going public in this April — announced higher than anticipated revenues and lower than anticipated losses per share during Q2 2019.
According to its CEO Ben Silbermann, the company reached 300 million monthly active users (or, MAUs) by the end of the second quarter as well.
"We constantly aim to make Pinterest more personal, relevant and useful to our users. Our MAUs hit 300 million at the end of Q2 as we built and expanded products to support this vision," Silbermann said. "We also continued to grow and diversify our advertiser base and improve advertisers’ ability to measure the effectiveness of their ad spend. This is part of our larger and ongoing effort to create value for businesses on Pinterest."
Here’s what Pinterest reported compared with what analysts polled by Bloomberg were expecting:
- Revenue: $261.3 million, compared to $235.8 million expected
- Adjusted loss per share: -$0.06, compared to -$0.08 expected
- EBITDA: -$26 million, compared to -$45.9 million expected
On the heels of strong earnings reports recently from some of Silicon Valley’s top tech companies, Pinterest joined in the hot streak by posting $261 million in revenues for Q2, up 62% from the same period the year prior.
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Source: Business Insider – nbastone@businessinsider.com (Nick Bastone)