⁍ Shares of the company, which also beat third-quarter sales estimates, jumped 28% to $63.05 in extended trading.
⁍ Monthly active users jumped 37% to 442 million during the third quarter.
⁍ Revenue in the United States, the company’s largest market, jumped 49% to $374 million.
– Pinterest reported stronger-than-expected third-quarter earnings Wednesday, and the company’s shares jumped 28% in after-hours trading. The image-sharing site reported earnings of $1.13 per share and $443 million in revenue, above the analysts’ estimates of $383.5 million and the company’s own forecast of $1.12 per share to $1.17 per share, reports Reuters. Pinterest said it had 442 million monthly users at the end of the third quarter, up 37% from the previous quarter. Chief Financial Officer Todd Morgenfeld said the company gained 4 million monthly active users in late September as younger users turned to the site to get design ideas for customized wallpapers for Apple’s new iOS version for iPhones. “Advertisers tell us that Pinterest is brand safe relative to other consumer internet platforms,” Morgenfeld said.
Source: https://www.reuters.com/article/us-pinterest-results/pinterest-projects-60-sales-growth-in-fourth-quarter-as-ad-sales-rebound-idUSKBN27D2ZC