Pinterest Reports Earnings After Today’s Closing Bell: Here’s What…

Pinterest Reports Earnings After Today’s Closing Bell: Here’s What…

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social media giant Pinterest Inc PINS will report its second quarter results after the market close today (1 August).

Earnings outlook: Analysts expect steady growth from the first quarter of 2022 with estimated growth in both revenue and earnings per share.

Analyst consensus estimates are for revenue of $666.57 million and earnings per share (EPS) of $0.18. In the first quarter, Pinterest reported earnings per share of $0.10 and revenue of $574.88 million.

While analysts are forecasting a strong quarter, competitors such as Metaplatforms Inc META had a worse than expected earnings report. Meta missed estimated revenue by 0.45% and missed estimated earnings per share by 3.56%. The reason for this is the increasing competition Tick ​​tock and slowdown in advertising revenue. Investors will be watching to see if TikTok has impacted Pinterest and its earnings as well.

Also read: Meta, Google, Pinterest Hit With Price Target Cuts Ahead Of Q2 Results: Here’s Why

Another factor influencing Pinterest is its largest investor, Elliott Management Corp. Elliott increased his stake to 9% in a matter of months. As the investment firm continues to grow its holdings, rumors of a potential M&A surface.

Related article: Pinterest analyst says Elliott Management’s impact ‘might be limited’: What investors should know

PINS Price Promotion: Pinterest shares are up 3.34% to $20.12 as of Monday morning Gasoline Pro.

Photo: Courtesy of Souvik Banerjee on Unsplash




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