Pinterest shares tanked as much as 15% on Tuesday after the company reported third-quarter financial results that missed on earnings per share and provided weak guidance.
Here's how the company did, compared to analysts' consensus estimates from LSEG:
Earnings per share : 38 cents adjusted vs. 42 cents expected
: 38 cents adjusted vs. 42 cents expected Revenue: $1.05 billion vs. $1.05 billion expected
Pinterest's third-quarter sales grew 17% year over year while net income was $92.11 million, up 201% from $30.56 million a year ago during the same period.
The company said fourth-quarter revenue will come in between $1.31 billion and $1.34 billion. The midpoint of the revenue outlook, $1.325 billion, trailed Wall Street's projections of $1.34 billion.
After the stock move in extended-trading on Tuesday, Pinterest erased its gains for the year.
Pinterest said it recorded 600 million global monthly active users in the third quarter, ahead of the 590 million that StreetAccount was projecting. In August, Pinterest reported 578 million monthly active users for the second quarter.
The company logged $306 million in third-quarter adjusted earnings before interest, taxes, depreciation and amortization, or EBIDTA. That was higher than StreetAccount's estimates of $295 million.
Third-quarter sales in the U.S. and Canada came in at $786 million, lower than StreetAccount's estimates of $799 million.
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