Pinterest's (NYSE: PINS) stock price dropped 5% on Feb. 7 following its fourth-quarter earnings report. The social media company's revenue rose 4% year over year to $877 million but missed analysts' estimates by nearly $10 million. Its adjusted net income fell 40% to $203 million, or $0.29 per share, which still cleared the consensus forecast by a penny.
For the full year, Pinterest's revenue increased 9% to $2.8 billion as its adjusted net income dropped 45% to $426 million. Those numbers compared poorly against its 52% revenue growth and 175% adjusted net income growth in 2021, but that slowdown wasn't surprising given the tough macroeconomic conditions for advertising platforms over the past year.
Image source: Pinterest.
Source Fool.com