May 16, 2019 - Economy & Business
Pinterest stock price dives after mixed earnings results
Pinterest, the online bookmarking service, posted mixed results on Thursday for its first quarterly earnings as a public company, beating revenue estimates while reporting a much larger loss per share than expected.
Why it matters: The company went public at a price above its initial proposed range, with many expecting Pinterest to work its way to profitability soon enough.
By the numbers:
- Loss per share: $0.33 vs. $0.11 expected, per Yahoo Finance.
- Revenue: $201.9 million vs. $200.6 million expected, per Yahoo Finance.
- Monthly active users: 291 million global, 85 million U.S., 206 million international.
- Average revenue per user: $ 0.73 global, $2.25 U.S., $0.08 international.
Pinterest's stock price quickly dropped by more than 14% in after-hours trading after posting its earnings.