Pinterest's fourth-quarter revenue forecast underwhelmed investors despite a 18% revenue growth to $898.4 million. The company's performance contrasted sharply with larger digital ad competitors.
Despite the lower-than-expected forecast, Pinterest's quarterly revenue growth exceeded estimates, reaching $898.4 million, and the adjusted profit per share of 40 cents surpassed predictions of 34 cents.
The company is responding to competitive pressures and changing market dynamics with its new Performance+ suite launched in October, aiming to enhance user targeting through AI and automation.
With the stock buyback announcement of up to $2 billion, Pinterest aims to bolster investor confidence, yet the cancellation of a prior $500 million buyback program raises questions about future capital strategies.
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