Here's Why Pinterest Stock Crashed Today
Shares of Pinterest (NYSE: PINS) plunged 18% on Friday after the social media platform reported disappointing second-quarter results.
Pinterest's revenue soared 125% year over year to $613.2 million. Its net income, meanwhile, improved to $69.4 million from a loss of $100.7 million in the year-ago period. The gains were fueled by strong increases in average revenue per user (ARPU), as advertisers ramped up their spending on Pinterest's platform during the pandemic.
Pinterest's stock price fell sharply on Friday. Image source: Getty Images.
Source Fool.com
