Why Pinterest Stock Surged Today
Shares of Pinterest (NYSE: PINS) have surged today, up by 17% as of 1:15 p.m. EDT, after the freshly public company reported strong second-quarter earnings results. The social media specialist crushed estimates and boosted full-year guidance.
Revenue in the second quarter increased 62% to $261.2 million, easily topping the consensus estimate of $235.5 million in sales. That top-line growth represented acceleration from the 54% jump that Pinterest reported in Q1. That all translated into an adjusted net loss of $24.5 million, or $0.06 per share. Pinterest also hit 300 million monthly active users (MAUs) worldwide, with average revenue per use (ARPU) rising 29% to $0.88.
Image source: Pinterest.
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