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.
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.
Stocks you may like:
Shares of outdoor grill maker Weber Inc. (NYSE: WEBR) were up 9% on Wednesday after the company released its first quarterly earnings report since going public last month. The stock
While throwing markets into disarray, the widespread shutdown also had a positive effect on industries like retail and technology, but there are surprise winners like Crocs, Inc. (NASDAQ: CROX) that
Credit: agrobacter on iStock How do you see the future of mobile gaming revenues – is it going to be primarily from advertisements, or will it be more skewed towards