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

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Jerry Kronenberg wrote a column · Jul 30 15:32
$Pinterest (PINS.US)$ sank more than 15% after hours Tuesday after the content giant missed analyst expectations for Q3 forward guidance even as the firm beat forecasts for Q2 revenues and earnings.
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.
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Jerry Kronenberg
Director of Financial Content
Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
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