Image sharing platform Pinterest, Inc. (NYSE: PINS) reported profit for the first quarter of 2021, compared to a loss last year, aided by a double-digit increase in revenues. The results also beat estimates.
The Silicon Valley-based social media firm posted earnings of $0.11 per share for the first quarter, on an adjusted basis, compared to a loss of $0.1 per share in the year-ago period. Experts had predicted a smaller bottom-line number.
On an unadjusted basis, the company reported a net loss of $21.7 million, compared to a loss of $141.2 million in the first quarter of 2020. The improvement was the result of a 78% growth in revenues to $485.2 million, exceeding the consensus forecast.
Pinterest’s stock experienced significant volatility since the beginning of the year. It closed Tuesday’s trading higher but declined during the extended session immediately after the announcement.
Stocks you may like:
Walmart (WMT) is a major retailer with a strong presence in the US and international markets. The company offers a wide range of products through its stores and digital channels.
The ongoing information technology boom has spurred the need for effective tools for database management, and enterprises are turning to technology companies like MongoDB Inc. (NASDAQ: MDB) to integrate their
The shares of Thermo Fisher Scientific Inc. (NYSE: TMO), a leading provider of analytical instruments and software, climbed to a record high this week, extending the positive momentum that came