Bill Ready, CEO of Pinterest, rings the opening bell at New York Stock Exchange (NYSE) in New York City, U.S., May 15, 2024.
Pinterest shares sank about 15% when the company reported its second-quarter earnings on Tuesday and provided third-quarter guidance that was lower than analyst estimates.
Pinterest said that it had 522 million global monthly active users (MAU) for the second quarter, topping analyst estimates of 520.1 million.
Additionally, Pinterest reported second-quarter global average revenue per user (ARPU) of $1.64, in line with analyst estimates.
However, the company's YouTube advertising sales were $8.66 billion during that period, coming in lower than analyst estimates of $8.93 billion.
Persons:
Bill Ready, Pinterest, we're, Julia Brau Donnelly, Donnelly
Organizations:
New York Stock Exchange, Analysts, ., U.S, U.S ., YouTube, Meta
Locations:
New York City, U.S, LSEG, Canada, Europe