Pinterest's Earnings Demolish Expectations; Stock Soars 31%
Pinterest (NYSE: PINS) reported powerful third-quarter 2020 results after the closing bell on Wednesday, Oct. 28.
Shares of the image-discovery platform operator skyrocketed 31.5% in after-hours trading on Wednesday, suggesting their performance during Thursday's regular trading session will be an early Halloween treat for investors. We can attribute investors' delight to revenue and earnings both demolishing Wall Street's expectations and fourth-quarter revenue guidance also coming in much higher than the analyst consensus estimate.
In 2020, Pinterest stock is up 164% through Wednesday's regular trading session, compared with the S&P 500's 2.8% return. (And it's up 247% for the year through Wednesday's after-hours session.)
Source Fool.com
