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Pinterest -14% after Q4 2023 Sales Miss Expectations

Moomoo 24/7 ·  Feb 9 05:08

$Pinterest (PINS.US)$ reported quarterly earnings of $0.53 per share which beat the analyst consensus estimate of $0.51 by 3.92 percent.  The company reported quarterly sales of $981.00 million, which missed the analyst consensus estimate of $989.53 million by 0.86 percent.

This is an 11.83 percent increase over sales of $877.21 million in the same period last year. Bloomberg attributed the decline in share price as a reaction to ad sale revenue that just was not good enough compared to giants like $Meta Platforms (META.US)$. The company also projected a weaker consumer outlook for 2024.

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