Pinterest Inc PINS shares are trading higher in Thursday’s after-hours session after the company reported better-than-expected financial results.
Pinterest said third-quarter revenue increased 8% year-over-year to $685 million, which beat average analyst estimates of $665.47 million, according to Benzinga Pro. The company reported quarterly earnings of 11 cents per share, which beat average estimates of 6 cents per share.
Global monthly active users were flat year-over-year at 445 million.
“Despite the challenging macro environment, we are delivering performance and a distinct value proposition to advertisers, reaching users across the full funnel,” said Bill Ready, CEO of Pinterest.
Pinterest expects fourth-quarter revenue to grow mid-single digits on a year-over-year percentage basis, which takes into account slightly greater foreign exchange headwinds than in the third quarter. The company expects fourth-quarter operating expenses to grow low double digits quarter-over-quarter.
Pinterest is an online product and idea discovery platform that helps users gather ideas.
PINS Price Action: Pinterest has a 52-week high of $36.95 and a 52-week low of $16.14.
The stock was up 17.6% in after-hours at $25.74 at the time of publication.
Photo: Souvik Banerjee from Pixabay.
Techyrack Website stock market day trading and youtube monetization and adsense Approval
Adsense Arbitrage website traffic Get Adsense Approval Google Adsense Earnings Traffic Arbitrage YouTube Monetization YouTube Monetization, Watchtime and Subscribers Ready Monetized Autoblog
from Stock Trade Alerts – My Blog https://ift.tt/N3bhGF7
via IFTTT
No comments:
Post a Comment