"Pinterest's first-quarter earnings report showed earnings per share of 27 cents adjusted, beating the expected 23 cents, and revenue of $1.01 billion, surpassing the $966 million forecast."
"Despite a net loss of $73.59 million, Pinterest's sales rose 18% year-over-year, and the company expects second-quarter revenue between $1.13 billion and $1.15 billion."
"The first-quarter EBIDTA was reported at $207 million, ahead of analysts' estimates of $176 million, indicating strong operational performance despite the net loss."
"Pinterest's global monthly active users increased by 11% year-over-year to 631 million, aligning with analyst estimates, while average revenue per user reached $1.61, exceeding expectations."
Pinterest reported first-quarter earnings that surpassed analysts' expectations, with earnings per share of 27 cents and revenue of $1.01 billion. Sales rose 18% year-over-year, although the company experienced a net loss of $73.59 million. For the second quarter, Pinterest anticipates revenue between $1.13 billion and $1.15 billion. The first-quarter EBIDTA was $207 million, exceeding estimates. Monthly active users increased by 11% to 631 million, and average revenue per user was $1.61, above expectations. The company previously missed estimates for five consecutive quarters and is shifting resources towards artificial intelligence.
Read at www.cnbc.com
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