Pinterest Stock Slides As Earnings Miss Estimates And Guidance Falls Short

Benzinga

Pinterest shares fell 15% after Q3 earnings missed expectations and the company issued weaker fourth-quarter guidance. Monthly active users reached 600 million, but adjusted earnings came in below forecasts. CEO Bill Ready said Pinterest is evolving into an AI-powered shopping assistant through product and recommendation investments.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Pinterest shares plunged 15% after reporting third-quarter results that missed earnings

00:06expectations and offered weak guidance, according to CNBC. Platform reported adjusted earnings of

00:11$0.38 per share, missing estimates of $0.42, while revenue matched expectations at $1.05 billion.

00:18Pinterest forecasted fourth-quarter revenue between $1.31 billion and $1.34 billion,

00:23with a midpoint falling short of Wall Street's $1.34 billion estimate.

00:26The platform reached 600 million monthly active users, topping projections of $590 million.

00:32CEO Bill Rowdy said investments in AI and product innovation have turned Pinterest

00:35into an AI-powered shopping assistant for consumers.

00:39For all things money, visit Benzinga.com.

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