Why You Should Take Advantage of Pinterest's Post-Earnings Plunge
Shares of Pinterest (NYSE: PINS) were down by double digits after the company posted first-quarter earnings, despite the report being stellar.
Revenue in the quarter jumped 78% to $485 million, beating the company's own guidance and the consensus at $473.7 million. On the bottom line, the company posted its third straight quarter of positive adjusted EBITDA at $84 million or 16% of revenue, a sign the company has become reliably profitable. On an adjusted basis, the company posted a per-share profit of $0.07, which matched estimates.
Guidance was also strong, despite uncertainty around the pandemic. The company forecast revenue growth of 105% in the second quarter to $558 million, ahead of the consensus at $530 million.
Source Fool.com
