Second-quarter sales rose 18% and monthly active users reached 640 million, but the company’s $1.19 billion to $1.21 billion revenue forecast matched Wall Street estimates.
Pinterest shares fell 7% in extended trading on Tuesday after the social media company posted second-quarter earnings and revenue above analyst expectations but offered current-quarter sales guidance that was only in line with forecasts. Sales rose 18% to $998.2 million from a year earlier, while Pinterest reported a net loss of $47 million, or 8 cents per share, compared with net income of $38.76 million, or 6 cents per share, a year ago. Adjusted earnings reached $311 million, ahead of StreetAccount projections of $270 million. Global monthly active users, or MAUs (people using the platform each month), increased 11% year over year to 640 million, topping estimates of 635 million, and global average revenue per user, or ARPU (revenue generated per user), was $1.86, also ahead of projections. Pinterest said revenue for the current quarter is expected between $1.19 billion and $1.21 billion, with the $1.2 billion midpoint matching analyst expectations, and added that the outlook assumes a modest foreign-exchange headwind based on current spot rates.