Pinterest shares sank about 14% after hours Thursday after the company reported mixed second-quarter results and said it could not provide third-quarter guidance because of continued uncertainty about the coronavirus pandemic.
The online-pinboard company reported a 125% increase in revenue and said its global monthly active users rose 9%. But it saw a 7% decline in U.S. users and ended the quarter with a total of 454 million monthly active users, well short of analysts’ expectation of 481.6 million monthly active users.
“Our second-quarter results reflect both the strength of our business and the recent shift in consumer behavior we’ve seen as people spend less time at home,” said Ben Silbermann, chief executive and co-founder of Pinterest, in a statement.
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Analysts surveyed by FactSet had forecast earnings of 13 cents a share on revenue of $562 million.
Pinterest stock has risen about 10% year to date and soared about 190% in the past year, while the S&P 500 Index SPX,
