Categories AlphaGraphs, Earnings, LATEST, Technology
Earnings: Pinterest (PINS) turns to profit in Q2 as revenue more than doubles; results beat
Image sharing platform Pinterest, Inc. (NYSE: PINS) Thursday said it turned to net profit in the June quarter from a loss last year, supported by strong revenue growth. The numbers also came in above analysts’ forecast.
The Silicon Valley-based social media firm posted earnings of $0.25 per share for the second quarter, on an adjusted basis, compared to a loss of $0.07 per share in the year-ago period. Experts had predicted a smaller bottom-line number for the most recent quarter.
On an unadjusted basis, the company reported a net income of $69.4 million, compared to a loss of $100.7 million in the second quarter of 2020. The improvement was the result of a 125% growth in revenues to $613 million, which exceeded the consensus forecast.
Read management/analysts’ comments on Pinterest’s Q2 results
Pinterest’s stock has experienced significant volatility since the beginning of the year. It closed Thursday’s trading lower and continued to lose during the extended session, immediately after the announcement.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Home Depot (HD) Q1 2024 Earnings: Key financials and quarterly highlights
The Home Depot (NYSE: HD) reported first quarter 2024 earnings results today. Sales decreased 2.3% year-over-year to $36.4 billion. Comparable sales decreased 2.8%. Net earnings were $3.6 billion, or $3.63 per share, compared
Applied Materials (AMAT) is set to report Q2 results. Here’s what to expect
Applied Materials, Inc. (NASDAQ: AMAT), a leading supplier of semiconductor fabrication equipment, has successfully navigated through market challenges, aided by its diversified customer base and continued innovation. The tech firm
What to expect when Lowe’s Companies (LOW) reports Q1 2024 earnings results
Shares of Lowe's Companies, Inc. (NYSE: LOW) were down over 1% on Monday. The stock has gained over 4% year-to-date. The home improvement retailer is scheduled to report its first
