Pinterest, Inc. (NYSE: PINS) on Tuesday reported first-quarter financial results after the closing bell. The company missed analysts’ consensus on earnings by a cent in Q1.
CFO Todd Morgenfeld said, “The spread of COVID-19 has certainly had an impact on our business and the businesses of our advertisers, but we remain optimistic about the future. While we’ve been adapting to the current environment, we will continue to invest in our strategic priorities of content, ads diversification, use case expansion and shopping. We’re committed to delivering inspiration to our users and measurable results to businesses.”
PINS shares fell 8% immediately following the announcement. The stock has declined 30% in the trailing 12-months.