Finance1 min read

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)

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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.

Sources checked by our analysis pipeline: 1

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 …

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