Latest news with #PINTEREST
The Sun
5 days ago
- Business
- The Sun
Pinterest Q2 profit miss overshadows Gen Z and AI growth
PINTEREST missed analysts' estimates for second-quarter profit on Thursday, overshadowing robust revenue and user growth, and sending its shares down over 11% in extended trading. The social media platform reported adjusted profit per share of 33 cents, below analysts' average estimate of 35 cents, according to data compiled by LSEG. However, its quarterly revenue grew 17% to $998.2 million, beating expectations of $974.8 million. The company's stock has gained about 35% so far this year. The growth was boosted by a surge in Gen Z users—who now represent more than half of Pinterest's user base— and adoption of its AI-powered ad suite, Performance+, which has appealed to advertisers seeking personalized and automated campaigns. CEO Bill Ready said adoption of Performance+ among mid-market advertisers was accelerating, cutting campaign creation time in half. Still, Pinterest forecast third-quarter revenue between $1.03 billion and $1.05 billion, broadly in line with estimates of $1.03 billion. The revenue growth outlook 'is strong but not accelerating from second quarter's 17%,' said eMarketer analyst Jeremy Goldman. 'In a high-expectation environment, even a small gap between reality and euphoria can trigger a sell-the-news reaction.' Rivals Meta and Reddit posted upbeat second quarter performance last week. In contrast, Snap reported its slowest quarterly revenue growth in over a year. The termination of the 'de minimis' exemption - a U.S. duty-free import provision - led to tighter ad budgets for smaller platforms such as Snap, as marketers preferred to larger platforms with wider reach. Pinterest CFO Julia Donnelly said the change prompted Asia-based e-commerce retailers to reduce their U.S. ad spending, though some shifted spending to Europe and other international markets. The San Francisco-based company's ad pricing fell 25% year over year, as a larger share of ad impressions now comes from international markets, where ad prices are generally lower than in the U.S. Pinterest has third-party ad deals with Google, and ad platform Magnite. The platform's global monthly active users (MAUs) rose 11% from a year earlier to 578 million, topping estimates of 553 million, but user growth slowed to 8 million additions in the quarter from 17 million in the first. 'MAUs are approaching a ceiling level of maturity, and the market is maturing rapidly despite the incremental implementation of AI to drive user growth,' Zephirin Group analyst Lenny Zephirin said. - Reuters
Mint
27-06-2025
- Science
- Mint
BIZZARE BUT REAL
The Bald Uakari is a small monkey native to the Amazon basin, known for its long, shaggy ginger fur and distinctive hairless, bright red face. Credit : PINTEREST
Mint
21-06-2025
- Entertainment
- Mint
WORLD-CLASS ENTERTAINMENT
'Lupin,' starring Omar Sy, is a modern twist on the classic tale of gentleman thief Arsène Lupin. This stylish French series has become a global hit for its clever plot and charismatic lead. Credit : PINTEREST
Mint
20-06-2025
- Entertainment
- Mint
CINEMATIC MILESTONES
Widely considered Raj Kapoor's masterpiece, Awara stands as one of Indian cinema's most iconic films, earning widespread acclaim in countries like China, Russia, and Turkey. Credit : PINTEREST
Mint
18-06-2025
- Entertainment
- Mint
FROM SCRIPTS TO SOULMATES
Jon Hamm and Anna Osceola met in 2015 while filming the Mad Men series finale and were first linked romantically in 2017. They went public in 2020, later starred together in Confess, Fletch, and married in June 2023. Credit : PINTEREST
