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