Pinterest Stock Soars as Revenue Forecast Exceeds Estimates

Published 7 hours agoPINS

Pinterest Stock Soars as Revenue Forecast Exceeds Estimates

Pinterest's latest announcement regarding its second-quarter revenue forecast has invigorated investor sentiment, resulting in a notable rise in the company's stock price. The company projects its Q2 revenue to range from $960 million to $980 million, surpassing Wall Street's average estimate of $966.3 million, as reported by Reuters.

Following this optimistic guidance, Pinterest's shares jumped over 12% in pre-market trading. This surge showcases the confidence investors hold in Pinterest's potential to capitalize on growing advertising investments. Alongside this, the company reported a substantial 10% year-over-year growth in global monthly active users, now totaling 570 million, exceeding analyst expectations.

Pinterest attributes its positive outlook to strategic enhancements such as the integration of artificial intelligence for personalizing ad campaigns. This focus has not only bolstered user engagement but also attracted advertisers aiming to tap into Gen Z audiences. As a result, the company's emphasis on direct response advertising continues to thrive, compensating for softer brand awareness spending.

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