Pinterest reports soft Q4 guidance; shares plunge in afterhours

Investing.comNov 8, 2024 5:46 AM

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Investing.com – Pinterest plunged in aftehrours trading Thursday as softer current-quarter guidance offset better-than-expected Q3 results.

Pinterest Inc (NYSE:PINS) was down more than 15% in recent afterhours trading.

The company reported adjusted Q3 earnings of $0.40 a share on revenue of $898.4 million, beating expectations of $0.34 and $896.9M, respectively.

Global monthly active users, or MAUs, decreased 11% year over year to 537M, with average revenue per user rising 5% year over year to $1.70.

Looking ahead to Q4, the company said it expected revenue to be in the range of $1.125B to $1.145B, or $1.135B at the midpoint, compared with estimates for$1.145B.

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