Pinterest Inc (NYSE:PINS) reported financial results for the second quarter Thursday after the bell. Here’s a look at the key details from the print.
Q2 Earnings: Pinterest reported second-quarter revenue of $998.23 million, beating estimates of $974.01 million, according to Benzinga Pro. The idea discovery platform company posted second-quarter adjusted earnings of 33 cents per share, missing analyst estimates of 35 cents per share.
Total revenue was up 17% on a year-over-year basis as Pinterest's global monthly active users increased 11% year-over-year to 578 million. Average revenue per user in the second quarter was $1.74 globally and $7.29 in the U.S. and Canada.
Net cash from operations totaled $208 million in the quarter, and free cash flow came in at $197 million. The company ended the period with approximately $1.22 billion in cash and cash equivalents.
“We’ve found our best product market fit ever by becoming a personalized shopping destination for users and an AI-powered performance platform for advertisers. With this focus, we believe we’re well-positioned to further capture market share,” said Bill Ready, CEO of Pinterest.
What’s Next: Pinterest sees third-quarter revenue of $1.03 billion to $1.05 billion versus estimates of $1.02 billion. The company expects third-quarter adjusted EBITDA of $282 million to $302 million.
Pinterest’s management team plans to provide more details on the company's forward guidance on its earnings call, which started at 4:30 p.m. ET.
PINS Price Action: Pinterest shares were down 10.39% in Thursday’s after-hours session, trading at $35.10 at publication time, according to Benzinga Pro.
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