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☆ CEO says Pinterest's growth strategy centers on 'positivity' not 'engagement via enragement'
▼ + stars: | 2024-05-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

"When I came into Pinterest, one of the things I set out to do was prove a business model for social media centered on positivity rather than engagement via enragement," Ready said. Like its peers, Pinterest uses AI to improve on its recommendation selections, Ready said. According to Ready, Pinterest is also different from other platforms because its users are more engaged than those in older generations. Usually, he said, social media sites attract their most engaged cohorts early on. "Not only are we aging down, our most recent cohorts are nearly twice as engaged as cohorts from the years prior," he said.

Persons: Bill Ready, CNBC's Jim Cramer, Pinterest, Ready Organizations: Wednesday Locations: Pinterest, enragement

☆ Stocks making the biggest moves midday: Super Micro Computer, Starbucks, Pfizer and more
▼ + stars: | 2024-05-01 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Super Micro Computer — The server vendor dropped 15% after missing revenue expectations for its fiscal third quarter. However, Super Micro beat analysts' expectations for its adjusted earnings and hiked its revenue guidance for its fiscal 2024 year. Starbucks posted adjusted earnings of 68 cents per share on revenue of $8.56 billion. Pfizer now expects adjusted earnings of $2.15 to $2.35 per share for the full year, higher than its previous forecast of $2.05 to $2.25 per share. Yum Brands — The fast-food giant lost nearly 4% after it reported quarterly adjusted earnings and revenue that missed analysts' expectations.

Persons: Joseph Otting, —, Cowen, Skyworks, SiriusXM, Goldman Sachs, Powell, Estée Lauder —, Estée Lauder, Kraft Heinz, Pinterest's, Alex Harring, Yun Li, Lisa Kailai Han, Hakyung Kim, Michelle Fox Organizations: New York Community Bank, Super Micro, Starbucks, Pfizer, Apple, Amazon Web Services, CVS, Powell Industries, Wall, LSEG, Brands, KFC, Pizza, Taco, JPMorgan Locations: Houston, Taco Bell's

☆ Pinterest shares soar 18% on earnings beat, strong revenue growth
▼ + stars: | 2024-04-30 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Shares of Pinterest popped 18% in extended trading Tuesday after the company reported first-quarter results that beat analysts' estimates and showed its fastest revenue growth since 2021. Pinterest reported 518 global monthly active users (MAUs) for the first quarter, up 12% year over year. In its first-quarter release, Pinterest CEO Bill Ready said the company is driving greater returns for advertisers because of its investments in AI and shoppability. Meta , Snap and Google parent Alphabet all reported first-quarter results last week that exceeded analysts' estimates for revenue. For its second quarter, Pinterest expects to report revenue between $835 million and $850 million, which equates to growth of 18% to 20% year over year.

Persons: Pinterest, MAUs, StreetAccount, Bill Ready Organizations: Digital

☆ Reddit investors shrug off hold rating, bid up stock another 15% as post-IPO rally continues
▼ + stars: | 2024-03-26 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

Reddit's post-IPO rally continues, despite the company receiving a hold rating from a prominent analyst. Investors continue to rally behind Reddit despite New Street Research issuing a neutral rating on the company "after the stock goes to the moon," analysts wrote in a note that was published Tuesday. Investors expect such a deal "to be added soon," considering OpenAI CEO Sam Altman maintains a 9% stake in Reddit. It also recently entered into an expanded partnership with Google, allowing the search giant to access more Reddit data to train its AI models. Meanwhile, some Reddit users took to the company's various finance-related subreddits on Tuesday to discuss the company's rising shares since its IPO.

Persons: Steve Huffman, Sam Altman, Altman, Condé Nast, Reddit, Reddit's, I've, I'd, Dash Organizations: New York Stock Exchange, New, Research, Investors, Advance Magazine Publishers, Google, Federal Trade Commission, FTC, GameStop, Nasdaq, Trump Media & Technology Group Locations: New York City, Reddit's, Reddit, pontificating

☆ Reddit shares rise 30% to start week after social media company's IPO
▼ + stars: | 2024-03-25 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

Reddit CEO Steve Huffman hugs mascot Snoo as Reddit begins trading on the New York Stock Exchange (NYSE) in New York on March 21, 2024. Reddit shares were up 30% to $59.80 at the market's close on Monday. The social media company's stock has been rising ever since it went public last week and raised roughly $750 million from the IPO, of which the company brought in about $519 million. Reddit shares soared 48% when it began trading on the New York Stock Exchange under the stock ticker "RDDT," resulting in a number of moderators and users, known as Redditors, earning millions of dollars as a group. Reddit's IPO came the same week that Astera Labs shares skyrocketed 72% on the day that the data center hardware company made its public market debut on the Nasdaq.

Persons: Steve Huffman, Snoo, Sam Altman, Reddit, Lo Toney, Toney Organizations: New York Stock Exchange, Reddit's, Astera Labs, Nasdaq, Capital, CNBC Locations: New York

☆ Reddit pops 48% in NYSE debut after selling shares at top of range
▼ + stars: | 2024-03-21 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

Reddit shares jumped 48% in their debut on Thursday in the first initial public offering for a major social media company since Pinterest hit the market in 2019. Reddit and selling shareholders raised about $750 million from the offering, with the company collecting about $519 million. This year, Reddit said it plans to recognize roughly $66.4 million in revenue as part of its data licensing deals. Google has also entered into an expanded partnership with Reddit, allowing the search giant to obtain more access to Reddit data to train AI models and improve its products. "I hope they believe in Reddit and support Reddit," Huffman told CNBC in an interview on Thursday.

Persons: Steve Huffman, Lynn Martin, Reddit, Pinterest, Klaviyo, Pinterest's, it's, Alexis Ohanian, Huffman, Redditors, Sam Altman, Condé Nast, Altman's, Altman Organizations: New York Stock Exchange, Astera Labs, Nasdaq, Meta, Google, Reddit, Federal Trade Commission, FTC, Companies, CNBC, GameStop, Tencent, Advance Magazine Publishers Locations: New York, It's, Reddit

Reddit mascot rings the opening bell, at the New York Stock Exchange (NYSE) in New York City, U.S., March 21, 2024. Reddit, the 19-year-old website that hosts millions of online forums, priced its IPO on Wednesday at $34 a share, the top of the expected range. The offering brought in $519 million, according to a press release, and values the company at close to $6.5 billion. Reddit had planned to price the deal at $31 to $34 a share. Reddit sold 15.28 million shares in the offering, while existing shareholders sold another 6.72 million.

Persons: Reddit Organizations: New York Stock Exchange, Reddit Locations: New York City, U.S

Reddit is seeking a valuation of up to $6.5 billion in its upcoming IPO, according to a person familiar with the matter. The Wall Street Journal was first to report on the expected range and valuation. Employees will be allowed to sell Reddit stock during the offering, the source added. Reddit had a private market valuation of $10 billion when it last raised a funding round of $1.3 billion in 2021, according to PitchBook. Reddit's IPO will represent the first major tech offering of the year and the first social media IPO since Pinterest's Wall Street debut in 2019.

Persons: Reddit, Sam Altman's, he'd, Altman, Condé Nast, Alexis Ohanian, Steve Huffman, Airbnb, OpenAI's, John Tuttle Organizations: New York Stock Exchange, Tencent, Advance Magazine Publishers, Securities and Exchange Commission, Google, Reddit Locations: Los Angeles , California, Reddit

☆ Reddit reportedly seeks to launch IPO in March
▼ + stars: | 2024-01-18 | by ( ) www.cnbc.com time to read: +3 min

Social media platform Reddit has drawn up detailed plans to launch its initial public offering (IPO) in March, moving forward with a listing it has been eyeing for more than three years, according to people familiar with the matter. The offering would also test the willingness of some Reddit users to back the company's stock market debut. Reddit, which filed confidentially for its IPO in December 2021, is planning to make its public filing in late February, launch its roadshow in early March, and complete the IPO by the end of March, two of the sources said. It will decide on what IPO valuation it will pursue closer to the time of the listing, according to the sources. The company held back from pulling the IPO trigger until it came closer to profitability.

Persons: Steve Huffman, Alexis Ohanian, Reddit, Huffman Organizations: Facebook, GameStop, AMC Entertainment Holdings Locations: San Francisco

☆ Meta lets Amazon shoppers buy products on Facebook and Instagram without leaving the apps
▼ + stars: | 2023-11-09 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +5 min

"For the first time, customers will be able to shop Amazon's Facebook and Instagram ads and check out with Amazon without leaving the social media apps," an Amazon spokesperson said in a statement. Amazon said last month that sales in its online ad business grew 26% from a year earlier in the third quarter to $12.06 billion. By partnering with Amazon, Meta can make it easier to allow shops to sell goods on Facebook and Instagram without creating custom storefronts on those apps. Meta provided some details about the new feature on Tuesday on a support page titled "Purchase with Amazon without leaving Facebook or Instagram." "You can check out with Amazon without leaving Facebook or Instagram, and experience more relevant ads."

Persons: Mark Zuckerberg, that's, Stuart McMullin, Maurice Rahmey, Rahmey, —, Annie Palmer Organizations: Meta, Facebook, Amazon, LinkedIn, CNBC Locations: Menlo Park , California, U.S, Pinterest

☆ Pinterest stock rockets 18% after earnings beat, advertising outlook
▼ + stars: | 2023-10-31 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +3 min

Pinterest stock rose more than 18% Tuesday after beating earnings estimates for the third quarter and assuaging concerns over potential ad revenue loss due to the Israel-Hamas war. The company posted an adjusted earnings per share of 28 cents, beating the LSEG estimate of 20 cents. Pinterest also soundly beat revenue expectations, reporting $763.2 million, versus analysts' estimates of $743.5 million. For much of earnings season, the market has been skittish toward companies reliant on ad revenue due to the unclear future effects of the Israel-Hamas war. Pinterest's mobile deep linking ad product was also a highlight, due to its more than 200% increase in the conversion rate, wrote the Barclays analysts.

Persons: Pinterest, Susan Li, Bill Ready, Gen, Morgan Stanley, Jonathan Vanian Organizations: Meta, Barclays, Citi, Pinterest, Shop, CNBC Locations: Israel

☆ Pinterest soars on rising Gen Z engagement, ad market rebound
▼ + stars: | 2023-10-31 | by ( Samrhitha A | ) www.reuters.com time to read: +2 min

A Pinterest logo is seen on a smartphone in this illustration taken October 20, 2021. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsOct 31 (Reuters) - Shares of Pinterest (PINS.N) surged 17% on Tuesday after a strong quarterly performance indicated that the image-sharing platform was riding a rebound in the advertising market and making inroads among the lucrative Gen Z. "Take the strong engagement trends as a sign that Pinterest may have found product-market fit with younger users which keeps the flywheel going," Bernstein analyst Mark Shmulik said. At least 19 analysts raised their price targets on the stock, boosting the median to $35, per LSEG data. Shares were up 17% at $29.43, and the company was on track to add nearly $3 billion in market value if the gains held.

Persons: Dado Ruvic, Bernstein, Mark Shmulik, Schmulik, Samrhitha, Sriraj Organizations: REUTERS, Z, Wall Street, Meta, Google, Thomson Locations: Bengaluru

☆ Pinterest surges after earnings. Why Jim Cramer sees the stock as a long-term winner
▼ + stars: | 2023-10-31 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer said Tuesday he believes in Pinterest 's (PINS) reinvention plan, pointing to the social media platform's strong third-quarter earnings report as evidence. "This is now going to be – along with [Instagram parent] Meta – a destination for you to advertise at," Cramer said. Pinterest's recent ad partnership with Amazon (AMZN) — which also is owned by Cramer's Trust — is "very smart," Cramer said. On Pinterest's earnings call Monday, Ready said the company is pleased with the Amazon partnership, which was announced in late April. He reiterated that Pinterest expects the "most meaningful" revenue impact to show up starting in early 2024.

Persons: CNBC's Jim Cramer, Pinterest, Bill Ready, Cramer, Jim Cramer's, Ready Organizations: Meta, Trust, CNBC, Club, Facebook, Amazon, Cramer's Trust

☆ Pinterest beats third-quarter revenue estimates on ad market recovery
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +2 min

A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 30 (Reuters) - Pinterest (PINS.N) beat third-quarter revenue estimates on Monday, as a stabilizing digital advertising market helped draw marketers to the image-sharing platform ahead of the holiday season. Brokerages including Bernstein have been optimistic about the benefits from the partnership, saying it could drive up Pinterest's fourth-quarter revenue. The San-Francisco, California-based company's revenue rose 11% to $763.2 million for the quarter ended Sept. 30, compared with Wall Street estimates of $743.5 million, according to LSEG data. Global monthly active users (MAUs) on the image-sharing platform rose 8% to 482 million.

Persons: Dado Ruvic, Bernstein, Bill Ready, Jaspreet Singh, Shailesh Organizations: REUTERS, Global, Magna, Thomson Locations: San, Francisco , California, Bengaluru

☆ Pinterest jumps on better-than-expected third-quarter results
▼ + stars: | 2023-10-30 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

A banner for the online image board Pinterest Inc. hangs from the New York Stock Exchange on the morning Pinterest made its initial public offering, April 18, 2019. Pinterest reported third-quarter earnings on Monday that beat on the top and bottom lines. Here's how the company did:Revenue : $763.2 million vs. $743.5 million expected, according to LSEG, formerly known as Refinitiv. : $763.2 million vs. $743.5 million expected, according to LSEG, formerly known as Refinitiv. For the fourth quarter, Pinterest said it expects revenue growth of 11% to 13%.

Persons: Pinterest, Bill Ready, Susan Li, wouldn't, Brad Gerstner Organizations: New York Stock Exchange, Meta, Company Locations: Israel

☆ Buy this social media platform with upside of more than 20%, HSBC says
▼ + stars: | 2023-09-26 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Analyst Mohammed Khallouf initiated coverage of the social media platform with a buy rating and a price target of $32.10. That target indicates that Khallouf thinks shares can rise 23.2% from Monday's close. Overall revenue also rose on an annualized basis in the first half of 2023, which Khallouf said was especially notable given smaller social media platforms struggled in the period. Pinterest's recent agreement to use Amazon for third-party advertisements should also improve monetization for the company, Khallouf noted. Shares rose marginally before the bell on Tuesday following the call.

Persons: Mohammed Khallouf, Khallouf, Bill Ready, Pinterest, — CNBC's Michael Bloom Organizations: HSBC Locations: Monday's

☆ This image sharing platform can jump more than 30% as it improves user engagement, analysts say in upgrades
▼ + stars: | 2023-09-20 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Pinterest is a buying opportunity for investors as it makes progress improving user engagement and monetization, Citi says. Citi analyst Ronald Josey upgraded shares to buy/high risk after coming out of the Analyst Day more confident the Pinterest can turn its business around. Pinterest shares popped 4.2% in Wednesday premarket trading. Citi was not the only Wall Street firm to upgrade Pinterest shares Wednesday. Davidson's Tom Forte raised his rating to buy from neutral after the company's latest analyst day spurred him to raise his forecasts.

Persons: Ronald Josey, Josey, Davidson's Tom Forte, Forte, — CNBC's Michael Bloom Organizations: Citi Locations: D.A

☆ Pinterest shares rally after executives tell Wall Street that growth is reaccelerating
▼ + stars: | 2023-09-19 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Pinterest shares rose as much as 5% and closed up 3% on Tuesday after company executives said they expect year-over-year revenue growth to accelerate following a slowdown in 2022 and 2023. Revenue growth was under 9% last year and analysts are projecting expansion of about 8% this year. In April, Pinterest announced an advertising partnership with Amazon . Pinterest stock is up 8% this year, trailing the Nasdaq's nearly 31% gain. WATCH: Pinterest's Amazon partnership will help the shopping experience, says venture capitalist Kamran Ansari

Persons: Pinterest, Ben Silbermann, Pinterest's, Bill Ready, Martha Welsh, Julia Donnelly, Donnelly, Kamran Ansari Organizations: New York Stock Exchange, Google, Amazon

☆ Top tech analyst Mark Mahaney adds this social stock to his list of top picks
▼ + stars: | 2023-08-17 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

The widely followed analyst named the social media stock his favorite name within the firm's internet small/mid-caps universe. Mahaney pointed to the company's partnership with Amazon as a potential driver of advertising growth, and said Pinterest also had opportunities to further monetize its platform. "It appears that the Amazon partnership is progressing faster than expected, and we believe this can bring materially incremental advertiser demand to the Pinterest platform," Mahaney said. "Unlike some other Online Advertisers whose tools are communication-based or consumption-based, we believe Pinterest's primary use cases (inspiration, discovery, action) may face relatively less competition," Mahaney said. Pinterest stock has climbed 10% in 2023.

Persons: Evercore, Mark Mahaney, Mahaney, Pinterest, Bill Ready's, Bill Ready, Michael Bloom Organizations: Amazon

☆ Google and Meta are creating so much new ad inventory, it's causing big price drops. Here's how much ads cost across the Big Tech giants.
▼ + stars: | 2023-08-04 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +6 min

Ad prices declined in the second quarter as new formats like Reels and Shorts rolled out. After some rough quarters, Google's and Meta's ad businesses are on the rebound , and they're creating so much short-form video ad inventory that the surge in supply is driving ad prices down. "Anytime you've got an influx of newer ad inventory, typically that inventory does come with lower ad pricing," he said. And Instagram Reels ad inventory is both plentiful and 39% cheaper than Instagram Feed ads, according to Tinuiti. Meta also added more ads to its Marketplace on Facebook, which dropped Facebook ad prices by 25%, Taylor said.

Persons: Shawndu Stackhouse, Tom Williams, Andy Taylor, Pacvue, Taylor, Tinuiti's Taylor, Mike Ryan, Meta, TikTok TikTok Organizations: Inc, Getty, Tinuiti, Brands, Google, Anadolu Agency, Meta, Facebook, CPM Locations: Google's, Northeast Washington, lockstep

☆ Stocks making the biggest moves midday: SolarEdge Technologies, Humana, Starbucks, Robinhood and more
▼ + stars: | 2023-08-02 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

SolarEdge Technologies — The solar stock tumbled about 19% after the company reported $991 million in revenue, missing analysts' estimates of $992 million, according to Refinitiv. CVS Health — The retail pharmacy stock gained 4% during midday trading Wednesday after the company posted strong earnings and revenue for the second quarter. The company reported adjusted earnings per share of $1.29, topping the $1.10 expected from analysts polled by StreetAccount. Starbucks' adjusted earnings per share for the fiscal third quarter was $1, versus the 95 cents expected by analysts, per Refinitiv. Chinese tech stocks — Shares of Chinese technology stocks dropped after regulators in China proposed limits on smartphone use for minors.

Persons: SolarEdge, Norwegian's, Emerson Electric's, Pinterest, Generac, Freshworks, Genuity, Robinhood, CNBC's Hakyung Kim, Pia Singh, Alex Harring Organizations: SolarEdge Technologies, CVS Health, CVS, Wall Street, Cruise, Susquehanna, Emerson, StreetAccount, Revenue, Wall, FactSet's, Starbucks, Bank of America, JPMorgan, Scotts Miracle, Gro, Scotts, JD.com, Baidu, Tencent Locations: Refinitiv, China

☆ Pinterest's Amazon partnership will help the shopping experience, says Greycroft's Kamran Ansari
▼ + stars: | 2023-08-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPinterest's Amazon partnership will help the shopping experience, says Greycroft's Kamran AnsariKamran Ansari, Greycroft principal and venture partner, joins 'Squawk Box' to discuss social media's earnings so far, the challenges facing Pinterest after reporting better than expected Q2 results but expenses growing faster than revenue, and more.

Persons: Greycroft's Kamran Ansari Kamran Ansari

☆ Pinterest delivers revenue beat on digital ad market rebound
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. REUTERS/Dado Ruvic/IllustrationAug 1 (Reuters) - Image-sharing platform Pinterest (PINS.N) beat second-quarter revenue estimates on Tuesday as monthly active users surged and digital advertising rebounded from a downturn triggered by an uncertain economy. Pinterest's revenue for the quarter ended June 30 grew 6% to $708 million, compared with market estimates of $696.1 million, according to Refinitiv data. Global monthly active users (MAUs) on the platform rose 8% to 465 million from a year ago, above estimates of 462.8 million. Pinterest earned a quarterly adjusted profit of 21 cents per share, compared with 11 cents a year ago.

Persons: Dado Ruvic, Pinterest, Jaspreet Singh, Devika Organizations: REUTERS, Tech, Meta, Global, Thomson Locations: Bengaluru

☆ Pinterest earnings will reflect its Amazon partnership, says Payne Capital's Courtney Garcia
▼ + stars: | 2023-08-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPinterest earnings will reflect its Amazon partnership, says Payne Capital's Courtney GarciaCourtney Garcia, senior wealth advisor at Payne Capital Management, joins 'The Exchange' to discuss analyst expectations for Starbucks' earnings, Pinterest's room for international growth, and a potential pullback in AMD.

Persons: Payne Capital's Courtney Garcia Courtney Garcia Organizations: Payne Capital Management, Starbucks, AMD

☆ This social media stock can rally 40% as ad spending improves, Evercore ISI says
▼ + stars: | 2023-07-18 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Analyst Mark Mahaney upgraded the visual discovery platform to outperform from in line and raised his price target by $11 to $41. Mahaney's new price target implies the stock could rally 40.7% over the next year. The result: "Generating very high double digit EBITDA growth (e.g. He also called current valuation reasonable, at 27 times and 21 times enterprise value-to-EBITDA for 2024 and 2025, respectively. The $41 price target is based on a 30-times EBITDA at $833 million in 2025.

Persons: Mark Mahaney, Bill Ready, Mahaney, — CNBC's Michael Bloom Organizations: Mahaney, Amazon

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