Pinterest Warns of Slower Growth as Ad Giants Heat Up Competition
Pinterest posts $1.18B in revenue (+18%) and a record 640M users, but shares fall on a slower 13%-15% Q3 growth forecast amid rising ad competition.
Pinterest posts $1.18B in revenue (+18%) and a record 640M users, but shares fall on a slower 13%-15% Q3 growth forecast amid rising ad competition.
Pinterest signed a $4B AWS deal to boost AI for better search, recommendations, and ads, improving user experience globally.
Pinterest had a strong Q1: revenue up 18% to $1.01B, users hit 631M. Stock jumped. AI tools and outlook are improving.
Activist investor Elliott Management injects $1 billion into Pinterest via convertible notes at a 30% premium. Pinterest launches $3.5B buyback program, using proceeds for $1B accelerated share repurchase.
Pinterest reports strong user growth but misses revenue forecasts, leading to a sharp stock drop.
Pinterest plans to cut up to 15% of its workforce, shifting focus to AI products to boost revenue amid declining ad spending.