Pinterest Falls 16% Despite Q2 Beats as Wall Street Dislikes Q3 Guidance

PINS fell 16.2% to trade at $31.30 as of 4:30 p.m. ET after the company guided Q3 revenues at $885 million to $900 million – trailing the $909 million consensus that analysts had reportedly expected.

That took the stock down even though Pinterest booked $0.29 earnings per share for Q2, exceeding the $0.28 consensus that analysts had reportedly forecast.

PINS also said Q2 revenues came in at $853.7 million, beating the $848.1 million consensus that published reports said analysts had predicted.