Pinterest shares sank about 4% after the company's second-quarter earnings report revealed expenses grew faster than revenue.
Revenue : $708 million vs. $696 million expected, according to Refinitiv.
: $708 million vs. $696 million expected, according to Refinitiv.
Sales in the company's second quarter jumped 6% year over year, while net losses narrowed by 19% to $35 million, or 5 cents per share, from $43.1 million, or 7 cents per share, a year earlier.
Pinterest said its total costs and expenses were $781 million during the second quarter, an 11% increase from the $700 million it recorded the previous year during the same period.
Persons:
Pinterest, Bill Ready, we've, Meta
Organizations:
New York Stock Exchange, Facebook, Meta