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Pinterest (NYSE:PINS) shares are trading higher after the company reported better-than-expected fourth-quarter EPS and sales results.
The company reported quarterly earnings of 12 cents per share, which beat the analyst consensus estimate of 8 cents.
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Pinterest reported quarterly sales of $400 million, which beat the analyst consensus estimate of $371.53 million by 7.66%.
The company sees fiscal year 2020 sales up to $1.52 billion versus the $1.5 billion estimate.
"We are pleased with the performance of our business in Q4 and the many milestones we achieved in 2019," CFO Todd Morgenfeld said in a statement. "We scaled the business to over $1 billion in annual revenue, grew to over 300M monthly active users and opened 21 new international advertising markets. We look forward to the opportunities ahead of us as we continue to invest in the Pinner and advertiser experience."
Pinterest shares were trading up 15% at $26.50 in Thursday's after-hours session. The stock has a 52-week high of $36.83 and a 52-week low of $17.39.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.