Pinterest news on Friday from its most recent earnings report has PINS stock falling hard.
Pinterest (NYSE:PINS) reported losses per share of 33 cents for the first quarter of 2019. This is better than the company’s losses per share of 42 cents from the same time last year. Unfortunately for PINS stock, this has it missing Wall Street’s losses per share estimate of 11 cents for the quarter.
The Pinterest news release also includes a net loss of $41.42 million for the first quarter of the year. This isn’t as wide as the company’s net loss of $52.71 million reported in the first quarter of 2018.
Operating loss from the Pinterest news release including its earnings for the first quarter of 2019 come in at $44.83 million. That’s not as bad as the company’s operating loss of $54.98 million reported in the same period of the year prior.
The Pinterest earnings report for the first quarter of the year also includes revenue of $201.91 million. This is an increase over the company’s revenue of $131.36 million reported in the first quarter of the previous year. It also comes in above analysts’ revenue estimate of $200.61 million for the period, but couldn’t stop PINS stock from falling today.
Pinterest also provides its outlook for the full year of 2019 in its most recent earnings report. The company is expecting revenue for the year to range from $1.055 billion and $1.080 billion. Wall Street is looking for revenue of $1.06 billion for the year.
PINS stock was down 12% as of noon Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
Article printed from InvestorPlace Media, https://investorplace.com/2019/05/pinterest-news-hits-pins-stock/.
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