Why Pinterest Shares Are Rising During Thursday's After-Hours Session

Pinterest Inc PINS shares are trading higher after the company reported better-than-expected third-quarter EPS and sales results.

Pinterest reported quarterly earnings of 28 cents per share which beat the analyst consensus estimate of 23 cents per share. Pinterest reported quarterly sales of $632.93 million which beat the analyst consensus estimate of $631.24 million. This is a 43% increase over sales of $442.62 million in the same period last year.

“We were pleased with the financial results that we delivered in Q3,” said Ben Silbermann, CEO and co-founder, Pinterest. “Revenue grew 43% year-over-year and I am proud of the team’s progress in launching a number of new products for both creators and brands, bringing more video content and shoppable features to Pinterest.”

Pinterest a visual discovery engine where people find inspiring creators, shop new products, and seek out ideas to take offline.

Pinterest has a 52-week high of $89.90 and a 52-week low of $43.50.