(Reuters) -Pinterest missed Wall Street expectations for second-quarter profit on Thursday, overshadowing robust revenue and user growth, sending its shares down over 8% in extended trading.<\/p>\n
The social media platform reported adjusted profit per share of 33 cents, missing analysts’ average estimate of 35 cents, according to data compiled by LSEG.<\/p>\n
However, revenue rose 17% to $998.2 million, beating expectations of $974.8 million.<\/p>\n
The growth was driven by a surge in Gen Z users\u2014who now represent more than half of Pinterest’s user base\u2014 and the platform’s AI-powered tools, which have attracted advertisers seeking personalized and automated campaigns.<\/p>\n
Pinterest’s results follow Meta and Reddit’s strong second quarter performance last week. In contrast, Snap reported its slowest quarterly revenue growth in over a year.<\/p>\n
The company’s focus on direct-response ads, designed to prompt specific actions like shopping, app downloads, or website visits, continued to drive ad demand. Its stock has risen about 35% so far this year.<\/p>\n
“We\u2019ve found our best product market fit ever by becoming a personalized shopping destination for users and an AI-powered performance platform for advertisers,” CEO Bill Ready said in a statement.<\/p>\n
Pinterest has third-party ad deals with Google, Amazon.com and advertising platform Magnite.<\/p>\n
Global monthly active users on the platform rose 11% to 578 million, exceeding estimates of 553 million.<\/p>\n
Pinterest expects third quarter revenue to be between $1.03 billion and $1.05 billion, compared with estimates of $1.03 billion.<\/p>\n
(Reporting by Jaspreet Singh in Bengaluru; Editing by Tasim Zahid)<\/p>\n","protected":false},"excerpt":{"rendered":"(Reuters) -Pinterest missed Wall Street expectations for second-quarter profit on Thursday, overshadowing robust revenue and user growth, sending…\n","protected":false},"author":2,"featured_media":66019,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[182,181,507,48410,2214,48411,74],"class_list":["post-66018","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-pinterest","tag-revenue-growth","tag-social-media-platform","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/66018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=66018"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/66018\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/66019"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=66018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=66018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=66018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}