Advertisers Remain Un-Pinterested

Although mega-cap technology giants like Meta, Alphabet, and Amazon are having no trouble in the advertising market, smaller players like Snap are. That trend continued today, with Pinterest missing revenue estimates. Let’s take a look at the numbers. 👇

The social media company’s adjusted earnings per share of $0.53 topped the expected $0.51. However, revenues of $981 million were $10 million shy of estimates despite rising 12% YoY.

Monthly active users rose 11% YoY to 498 million. That was ahead of the 487 million analysts anticipated, but its global average revenue per user of $2.00 was $0.05 shy of the consensus estimate of $703 million. Its first-quarter revenue guidance implies 15% to 17% YoY growth but came in shy of the consensus estimate of $703 million. đŸ”ē

Shares initially sold off sharply but recovered some losses after CEO Bill Ready announced a “third-party app integration with Google.” This is similar to its partnership with Amazon, and Ready said it should help the platform better monetize non-U.S. markets.

Overall, investors remain concerned about the company’s struggle to monetize its user base. Until it figures out how to make its advertising offering more competitive, it’s stuck preserving earnings through cost cuts and other short-term measures. 👎

$PINS shares are down about 9% after hours. Despite that, the Stocktwits community is looking on the bright side of things as sentiment sits in “extremely bullish” territory. 🐂

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The stock jumped to fresh all-time highs in the after-hours session following better-than-expected results. Its fourth-quarter revenues of $276.3 million topped estimates of $258.3 million, with its adjusted loss also narrower than anticipated. đŸ’Ē

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Neobanks that came public during the pandemic at insane valuations and got crushed over the last few years are roaring back in the current environment. đŸĻ

Dave Inc. is a digital banking service primarily focusing on cash advances, working off tips and subscription fees rather than overdraft fees. That was a solid business in the ZIRP era of cheap money but faced a reckoning in a higher interest rate environment. 💸

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Renewable Stocks Lack A Charge

The current market environment has not been kind to renewable energy stocks like electric vehicle makers or solar manufacturers. And that trend continued today with lackluster earnings results. 👎

Rivian kicked it off by saying that it’s laying off 10% of its workforce due to EV pricing pressures. Although it built and shipped more than double the vehicles it did in 2022, its 2023 losses still totaled more than $5.40 billion. đŸĒĢ

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Nvidia Delivers Bears Another Blow

With it being Nvidia day and all, let’s recap the semiconductor giant’s earnings and reaction. 👇

Before the print, we noted that Nvidia had only seen a downside surprise in earnings vs. expectations three times in the last ten years. However, with analyst estimates high and bullish sentiment roaring into the print, bears thought the contrarian view might have paid off.

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