Pinterest Inc PINS shares are trading lower in Thursday's after-hours session in sympathy with social media peer Snap Inc SNAP, which reported worse-than-expected financial results.
Snap said second-quarter revenue increased 13% year-over-year to $1.11 billion, which missed the estimate of $1.14 billion, according to data from Benzinga Pro. The social media company reported a quarterly loss of 2 cents per share, which missed the estimate for a loss of 1 cent per share.
Daily active users increased 18% year-over-year to 347 million.
Given uncertainties related to the operating environment, Snap said it would refrain from providing third-quarter revenue and adjusted EBITDA guidance.
Pinterest is an online product and idea discovery platform that helps users gather ideas. The company is scheduled to report its second-quarter financial results after the market closes on Aug. 1.
PINS Price Action: Pinterest has a 52-week high of $77.92 and a 52-week low of $16.14.
The stock was down 6.88% in after hours at $19.50 at press time.
Photo: Photo Mix from Pixabay.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.