Pinterest Spikes Higher After Q2 Earnings Beat

Pinterest Inc PINS traded sharply higher in Thursday's after-hours session following a second-quarter earnings beat.

Pinterest reported quarterly losses of $(0.06) per share, which beat the analyst consensus estimate of $(0.08). The company reported quarterly sales of $261.249 million, which beat the analyst consensus estimate of $235.53 million. This is a 62.07% increase over sales of $161.192 million the same period last year.

"Our MAUs hit 300 million at the end of Q2 as we built and expanded products to support this vision," said CEO Ben Silbermann. "We also continued to grow and diversify our advertiser base and improve advertisers' ability to measure the effectiveness of their ad spend. This is part of our larger and ongoing effort to create value for businesses on Pinterest."

For 2019, total revenue is expected to be between $1.095 billion and $1.115 billion, compared to the company's prior forecast of $1.055 billion and $1.08 billion.

Pinterest's stock traded higher by 11.5% to $31.55 per share in the after-hours session. The stock closed at $28.30.