Pinterest jumps after earnings beat

Pinterest jumps after earnings beat


Pedestrians pass in front of Pinterest signage displayed outside of the New York Stock Exchange.

Michael Nagle | Bloomberg | Getty Images

Pinterest jumped in after-hours trading Wednesday after the social media company reported first quarter 2022 earnings that beat analyst expectations.

The stock was up more than 6%.

Here’s how Pinterest did versus Refinitiv consensus estimates:

  • EPS: 10 cents adjusted vs 4 cents expected
  • Revenue: $575 million vs $573 million

Pinterest said it expects second quarter revenue to grow about 11% year over year.

Pinterest said its global monthly active users decreased 9% from the same period a year ago to 433 million. Investors anticipated 437.9 million total monthly active users, according to FactSet and StreetAccount. The company attributed the decline largely to pandemic growth in the year-ago quarter and lower search traffic, driven by Google’s algorithm change in November 2021.

Global average revenue per user came in at $1.33, up 28% from last year. Wall Street had expected ARPU of $1.31, according to FactSet and StreetAccount’s preview.

Before the company posted the report, Pinterest stock dipped nearly 3% in trading Wednesday. Investors have been nervous about macroeconomic conditions such as the war in Ukraine and supply chain issues that have impacted some advertising businesses. Apple’s iPhone privacy changes and inflation have also hampered some marketers.

Competitor Snap, for example, said last week it could continue to face a challenging operating environment that leads customers to pause their campaigns or reduce advertising budgets. Google’s YouTube on Tuesday also reported disappointing ad results. The company’s ad revenue of $6.87 billion trailed the $7.51 billion Wall Street expected, according to StreetAccount.

In its shareholder letter, Pinterest said the trends leading to its revenue growth “were offset by macro headwinds, including supply chain issues and other factors, which continued to impact one of our largest segments, CPG advertisers, as well as some mid-market advertisers.”

“In Europe, Russia’s invasion of Ukraine compounded a difficult macro environment, impacting many of our advertisers in that region,” the company added.

Subscribe to CNBC on YouTube.



Source

Crypto wobbles into August as Trump’s new tariffs trigger risk-off sentiment
Technology

Crypto wobbles into August as Trump’s new tariffs trigger risk-off sentiment

A screen showing the price of various cryptocurrencies against the US dollar displayed at a Crypto Panda cryptocurrency store in Hong Kong, China, on Monday, Feb. 3, 2025.  Lam Yik | Bloomberg | Getty Images The crypto market slid Friday after President Donald Trump unveiled his modified “reciprocal” tariffs on dozens of countries. The price […]

Read More
Tesla must pay 9 million in damages after fatal Autopilot crash, jury says
Technology

Tesla must pay $329 million in damages after fatal Autopilot crash, jury says

Tesla vehicles are parked outside of a dealership on July 24, 2025 in Austin, Texas. Brandon Bell | Getty Images A jury in Miami has determined that Tesla should be held partly liable for a fatal 2019 Autopilot crash, and must compensate the family of the deceased and an injured survivor damages of $329 million. The […]

Read More
Palantir lands  billion Army software and data contract
Technology

Palantir lands $10 billion Army software and data contract

Alex Karp, CEO of Palantir, attending the annual Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on July 9, 2025. David A. Grogan | CNBC Palantir has inked a contract with the U.S. Army worth up to $10 billion to meet growing warfare demands over the next decade. As part of the […]

Read More