Pinterest Q2 Earnings: Revenue, EPS Beat, But Weak Guidance Weighs On Shares - Pinterest (NYSE:PINS)

　　Pinterest IncPINS reported second-quarter financial results Tuesday after the bell. Heres a look at the key metrics from the quarter.

　　Q2 Earnings:Pinterest reported second-quarter revenue of $854 million, beating the consensus estimate of $847.81 million, according to Benzinga Pro. The idea discovery platform company reported adjusted earnings of 29 cents per share, beating analyst estimates of 28 cents per share.

　　Total revenue was up 21% on a year-over-year basis. Pinterest's global monthly active users increased 12% year-over-year to 522 million. Average revenue per user grew 8% year-over-year to $1.64.

　　Pinterest shares appear to be facing selling pressure due to the companys outlook for the third quarter.

　　Pinterest expects third-quarter revenue to be in the range of $885 million to $900 million versus estimates of $907.7 million. Third-quarter operating expenses are expected to be between $485 million and $500 million.

　　“Our monetization efforts are paying off. Advertisers are seeing improved performance across key objectives on Pinterest — from brand awareness to conversion — as we continue to roll out AI-powered products and experiences,” said Bill Ready, CEO of Pinterest.

　　“As a result, we‘re gaining share of advertising budgets with some of the world’s largest brands. Im proud of our pace of innovation as we execute against the opportunity ahead.”

　　Management will hold a conference call to discuss these results at 4:30 p.m. ET.

　　PINS Price Action: Pinterest shares were down 13.01% after hours at $32.39 at the time of publication, according to Benzinga Pro.

　　Photo: Shutterstock.

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