Image sharing platform Pinterest, Inc. (NYSE: PINS) has reported lower earnings for the first quarter of 2022, despite a double-digit increase in revenues. The number of monthly active users declined, while average revenue per user increased year-over-year.
First-quarter earnings, adjusted for one-off items, edged down to $0.10 per share from $0.11 per share a year earlier. On an unadjusted basis, it was a net loss of $5.28 million or $0.01 per share, compared to a loss of $21.7 million or $0.03 per share in the same period of 2021.
Meanwhile, revenues increased 18% annually to $574.9 million during the three-month period, with all the three geographical segments registering strong growth.
“Pinterest made good progress in Q1 executing on our long-term strategy. We continued to scale our native content and creators ecosystem, began beta testing Your Shop, our personalized shopping surface, and released our new open Pinterest API so that any developer can build applications for Pinners, creators, merchants, and advertisers,” said Ben Silbermann, CEO of Pinterest.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Thursday reported stronger-than-expected earnings for the fourth quarter. The tech firm also provided guidance for fiscal 2024. Earnings, excluding non-recurring items, came in
As Costco Wholesale Corporation (NASDAQ: COST) prepares to publish its first-quarter earnings, the warehouse behemoth’s stock climbed to an all-time high this week. When it reports the results next week,
Shares of Dollar General Corporation (NYSE: DG) turned red on Thursday despite the company delivering better-than-expected results for the third quarter of 2023. The stock has dropped 46% year-to-date. Although