Pinterest
stock is rising after the social-media platform reported better-than-expected revenue for its latest quarter.
For the third quarter, the company reported adjusted earnings per share of 28 cents, compared with the Wall Street consensus projection for 21 cents. Revenue came in at $763 million, above analysts’ expectations of $744 million. The company’s global monthly active users (MAUs) rose by 8% year-over-year to 482 million.
Pinterest
(ticker: PINS) stock was up as much as 15% in premarket trading the morning following the report.
Pinterest’s outlook was also solid. For the December quarter, the company sees growth in a range of 11% to 13% year-over-year. At the midpoint, that would imply revenue of $982 million, compared with the $978 million consensus.
“As we lean into Pinterest’s unique differentiators as a visual search, discovery, and shopping platform, we’re finding our best product market fit in years,” CEO Bill Ready said in the press release.
Write to Tae Kim at [email protected]
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