Pinterest stock tumbles on weak Q3 guidance
Q2 revenue rose 21% to $854 million, surpassing analyst projections of $848.75 million. The social media company also reported a slight beat on adjusted earnings per share at $0.29, a cent higher than the consensus estimate of $0.28.
CEO Bill Ready highlighted the company's successful monetization efforts, noting improved advertiser performance and increased share of advertising budgets from large brands, attributing this success to the rollout of AI-powered products and experiences. This forecast falls short of the analyst consensus of $908 million, triggering a significant downturn in the company's stock price.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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