Pinterest's (NYSE: PINS) stock price soared 21% during after-hours trading on Aug. 1 following its second-quarter earnings report. The social media company's revenue rose 9% year over year to $665.9 million, but it missed analysts' expectations by $0.7 million. Its adjusted net income fell 54% to $77.4 million, or $0.11 per share, which also missed estimates by $0.07.
Pinterest's headline numbers looked grim, but its guidance for "mid-single-digit" year-over-year revenue growth in the third quarter allayed some fears about a deeper near-term slowdown. It also predicted its operating expenses would only rise by the low single digits sequentially.
Image source: Pinterest.
Source Fool.com