Overview
- Pinterest, which reported results Monday, saw its stock jump about 16% to 17% in extended and premarket trading after topping revenue and EPS estimates.
- The company guided second-quarter revenue to $1.13 billion to $1.15 billion and projected adjusted EBITDA of $256 million to $276 million, both above Wall Street forecasts.
- Global monthly active users reached a record 631 million, up 11% from a year earlier, marking a tenth straight quarter of double-digit growth.
- Adjusted EBITDA came in at $207 million with free cash flow of $312 million, while GAAP results showed a net loss of about $74 million.
- Pinterest is expanding its ad reach with AI tools like Performance+ and the PinRec model and with connected-TV inventory from tvScientific, as Elliott backs a new $3.5 billion buyback following $2 billion of Q1 repurchases.