7:19:26 AM PDT - Wednesday, August 17th, 2022

Pinterest popped 20% on earnings that weren’t as terrible as expected  

By Editor - Mon Aug 01, 2:48 pm

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If Pinterest is a bellwether of consumer spending, things are not looking up just yet. Still, investors in the social network rallied as Q2 revenue came in roughly in line with expectations and user declines were not as horrible as they thought. That’s not to say Pinterest’s earnings were good . Pinterest missed on earnings and delivered zero user growth in its most recent quarter, citing a combination of factors including the lingering impacts from the pandemic, reduced traffic from search engines, the rise of TikTok, and — like many companies reliant on digital advertising — the broader macroeconomic uncertainty which has pulled down other tech stocks including Meta, Twitter and Snap.

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Pinterest popped 20% on earnings that weren’t as terrible as expected

  • Comments Off on Pinterest popped 20% on earnings that weren’t as terrible as expected

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