PINS Earnings: Pinterest Q2 2022 profit drops and misses estimates

Image sharing platform Pinterest, Inc. (NYSE: PINS) Monday reported a decline in second-quarter adjusted earnings, despite an increase in revenues.

Second-quarter earnings, adjusted for one-off items, dropped to $0.11 per share from $0.25 per share a year earlier. On an unadjusted basis, it was a net loss of $43.1 million or $0.07 per share, compared to a profit of $69.4 million or $0.10 per share in the same period of 2021. The bottom line also missed the consensus forecast.

Meanwhile, revenues increased 9% annually to $665.9 million during the three-month period, with all three geographical segments registering growth. Analysts were looking for a slightly bigger number.

Check this space to read management/analysts’ comments on Pinterest’s Q2 2022 earnings

“We accelerated our investment in shopping and ecommerce this quarter, and I am thrilled by the dedication of our leaders and employees to continue to build a positive place on the Internet. Pinterest is uniquely positioned to tackle unsolved problems in our industry, capitalize on long-term digital commerce trends and help people go from inspiration to realization,” said Bill Ready, CEO of Pinterest.

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