Pinterest Stock Pulls Back On Q2 Results: EPS Beat, Revenue Tops Estimates As Global Users Jump 8%

Pinterest Inc PINS reported second-quarter earnings Tuesday after the close. Here's a rundown of the results.

What Happened: Pinterest said second-quarter revenue increased 6% year-over-year to $708 million, which beat the consensus estimate of $696.06 million. The company reported a quarterly adjusted earnings of 21 cents per share, which beat estimates of 12 cents per share.

Global monthly active users increased 8% year-over-year to 465 million. 

Adjusted EBITDA was $107 million. Total costs and expenses during the quarter came in at $781 million. Pinterest also said it completed its $500 million buyback in the second quarter. 

"In Q2, we continued to build momentum with consumers and advertisers while further accelerating our pace of innovation," said Bill Ready, CEO of Pinterest.

"Over the past year, we've been laser-focused on our key differentiators and we're seeing results. Users are coming back more often and engaging more deeply, Pinterest is increasingly shoppable and actionable, and we're delivering better and more measurable performance for our advertisers."

Pinterest said it expects third-quarter revenue to grow in the high single-digits range year-over-year. The company said it will provide more details on its outlook during the conference call, which is set to kick off at 4:30 p.m. ET.

See Also: Mark Zuckerberg's Next Bet To Appeal Users On Facebook, Instagram Could Be AI-Powered Chatbots

PINS Price Action: Pinterest shares were up nearly 20% year-to-date, heading into the print. The stock was down 3.79% after hours at $27.87 at the time of publication, according to Benzinga Pro.

Photo: Hassas Arts from Pixabay.