Pinterest, Inc. led by Chairman, Co-Founder, President and CEO Ben Silbermann and Co-Founder, Chief Design and Creative Officer, Evan Sharp ring the opening bell celebrating the IPO of Pinterest Inc. at the New York Stock Exchange (NYSE) in New York, U.S., April 18, 2019. REUTERS/Brendan McDermid

Pinterest shares plunged in late Thursday trading after reporting quarterly results.
Its full-year sales guidance and adjusted loss per share disappointed.
Since the visual-bookmarking’s public debut one month ago, shares have risen 60% through Thursday’s market close.
Watch Pinterest trade live.

Pinterest shares plunged by as much as 19% in late Thursday trading after releasing its first-quarter results — its first quarterly report as a public company.

While visual-bookmarking platform reported quarterly sales that topped expectations, its sales guidance and adjusted loss per share both fell short.

Pinterest managed to narrow its net loss from the same point last year. It lost $41.4 million during the first three months of this year, narrower than the $52.7 million lost during the first three months of 2018.

“We were particularly encouraged by the strength we saw in US revenue and international user growth,” Todd Morgenfeld, the chief financial officer, said in a release.

Here’s what Pinterest reported compared with what analysts polled by Bloomberg forecast:

Revenue: $201.9 million versus $200.8 million expected.
Adjusted loss per share: $0.32 versus $0.10 expected.
EBITDA: -$38.4 million versus -$42.1 million expected.
Full-year 2019 revenue outlook: $1.06 billion to $1.08 billion versus $1.09 billion expected.

Wall Street has been concerned about two things when it …read more

Source:: Businessinsider – Finance


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