Pinterest shares rise 15% on better-than-expected guidance

Bill Ready, CEO of Pinterest, rings the opening bell at the New York Stock Exchange on May 15, 2024. Pinterest shares rose 15% in extended trading Thursday after the company reported first-quarter earnings and provided better-than-expected guidance. Here's how the company did, compared to analysts' consensus estimates from LSEG: Revenue : $855 million vs. $847 million expected : $855 million vs. $847 million expected Earnings per share: $0.23 cents Adj. vs. $0.26 cents expected The social media company said second-quarter sales should come in the range of $960 million to $980 million, which at the midpoint is higher than analysts expectations of $966 million. Pinterest had 570 million monthly active users in the first quarter, ahead of Wall Street estimates of 565 million. First quarter sales stemming from the U.S. and Canada came in at $663 million, missing analysts estimates of $664 million. Its first-quarter Europe revenue was $147 million, topping analysts projections of $14 ... Read full article.