Liz Moyer / Barron's Online : Pinterest reports Q3 revenue up 12% YoY to $1.17B, vs. $1.21B est., global MAUs up 10% to 661M, and forecasts Q4 revenue below est.; PINS drops 8%+ after hours — Choose Barron's as a preferred source of financial news — Key Points — Pinterest missed expectations and guided to lower …
Pinterest reports Q3 revenue up 12% YoY to $1.17B, vs. $1.21B est., global MAUs up 10% to 661M, and forecasts Q4 revenue below est.; PINS drops 8%+ after hours (Liz Moyer/Barron's Online)
In short
The company recorded third-quarter revenue of $1.17 billion, reflecting a 12% increase year over year that failed to meet the $1.21 billion expected by analysts. User engagement continued to climb during the period, reaching 661 million global monthly active users. However, this audience expansion was overshadowed by a weak fourth-quarter sales forecast that fell short of Wall Street projections. Consequently, the company's stock experienced a decline of more than 8% during after-hours trading.
Key points
- Reported revenue failed to meet Wall Street projections of $1.21 billion despite double-d…: Reported revenue failed to meet Wall Street projections of $1.21 billion despite double-digit growth.
- The company's fourth-quarter revenue outlook arrived below expectations, intensifying inv…: The company's fourth-quarter revenue outlook arrived below expectations, intensifying investor concerns.
- Strong audience growth was not enough to offset the negative reaction to weaker financial…: Strong audience growth was not enough to offset the negative reaction to weaker financial performance.