Pinterest To Report Earnings After Today's Closing Bell: Here's What To Look For

Social media giant Pinterest Inc PINS will report its second-quarter earnings after market close today (Aug. 1).

Earnings Outlook: Analysts are expecting steady growth from the first quarter of 2022, with an estimated growth in both revenue and earnings per share.

Consensus analyst estimates are expecting revenues of $666.57 million and earnings per share (EPS) of $0.18. In the first quarter, Pinterest reported EPS of $0.10 and revenues of $574.88 million.

While analysts are predicting a strong quarter, peers such as Meta Platforms Inc META had a worse-than-expected earnings report. Meta missed the estimated revenue figure by 0.45% and the estimated earnings per share by 3.56%. This is due to increasing competition from TikTok and slowing advertising revenue. Investors will be watching to see if TikTok has also had an impact on Pinterest and its earnings.

Also Read: Meta, Google, Pinterest Hit With Price Target Cuts Ahead Of Q2 Earnings: Here's Why

Another factor impacting Pinterest is its largest investor, Elliott Management Corp. Elliott has built its stake to 9% over the span of a few months. As the investment firm continues to grow its holdings, rumors of a possible M&A have started to arise.

Related Article: Pinterest Analyst Says Elliott Management's Impact 'Could Be Limited': What Investors Should Know

PINS Price Action: Pinterest shares are up 3.34% at $20.12 Monday morning, according to Benzinga Pro.

Photo: Courtesy of Souvik Banerjee on Unsplash