Market Overview

Why Pinterest's Stock Is Surging Higher Today

Why Pinterest's Stock Is Surging Higher Today

Pinterest (NYSE: PINS) shares are trading higher on Friday after the company reported better-than-expected second-quarter EPS and sales results. The company also reported global monthly active users grew 39% year over year.

Pinterest reported quarterly losses of 7 cents per share, which beat the analyst consensus estimate by 6 cents.

The company reported quarterly sales of $272.49 million, which beat the analyst consensus estimate of $251.24 million by 8.46%. This is a 4.30% increase over sales of $261.25 million in the same period last year.

Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from recipes to cook to destinations to travel to. Founded in 2010, the platform consists of a largely female audience, at roughly two-thirds of its more than 365 million monthly active users. The company generates revenue by selling digital ads and is now rolling out more in-platform e-commerce features.

Pinterest shares were trading up 34.26% at $33.82 in Fridays’ pre-market session. The stock has a 52-week high of $36.83 and a 52-week low of $10.10.


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