Why Pinterest Shares Are Exploding Higher Friday

Pinterest Inc PINS shares are trading higher by 12.08% to $24.53 after the company reported better-than-expected third-quarter results.

What Happened?

Pinterest said third-quarter revenue increased 8% year-over-year to $685 million, which beat average analyst estimates of $665.47 million, according to Benzinga Pro. The company reported quarterly earnings of 11 cents per share, which beat average estimates of 6 cents per share. 

Meanwhile, global monthly active users were flat year-over-year at 445 million...Read More

"Despite the challenging macro environment, we are delivering performance and a distinct value proposition to advertisers, reaching users across the full funnel," said Bill Ready, CEO of Pinterest.

PINS has a 52-week high of $49.10 and a 52-week low of $16.14.