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Pinterest Shares Fall as U.S. Monthly Average Users Decline


Pinterest reported Thursday second-quarter internet earnings of $69.4 million, in contrast with a lack of $100.7 million a yr earlier.



Photograph:

Gabby Jones/Bloomberg Information

Shares of

Pinterest Inc.


PINS -6.01%

fell greater than 14% in after-hours buying and selling, as the web sharing platform stated its month-to-month common customers within the U.S. contracted throughout the quarter, a development that accelerated this month.

The corporate reported 91 million month-to-month common customers within the U.S. within the quarter, down 5% from a yr earlier. Pinterest stated that “engagement headwinds” continued this month, with month-to-month common customers down 7% as of July 27. Globally, month-to-month common customers elevated 9% within the quarter.

“Our second quarter outcomes replicate each the power of our enterprise and the latest shift in shopper habits we’ve seen as individuals spend much less time at house,” Chief Govt

Ben Silbermann

stated in ready remarks.

Pinterest saw its user growth soar throughout the pandemic, as shut-in customers turned to the web site for masks and different merchandise. The corporate has stated the pandemic could have pulled ahead some consumer progress.

The corporate additionally reported Thursday second-quarter internet earnings of $69.4 million, in contrast with a lack of $100.7 million a yr earlier.

Adjusted earnings had been 25 cents a share. Analysts polled by FactSet had been anticipating adjusted earnings 13 cents a share.

Income totaled $613.2 million, in contrast with $272.5 million a yr earlier. Analysts anticipated $562 million in income.

Pinterest shares closed Thursday at $72.04 apiece, down 6%. Up to now this yr, the inventory is up 9.32%.

Write to Robert Barba at [email protected]

Copyright ©2021 Dow Jones & Firm, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared within the July 30, 2021, print version as ‘Pinterest Shares Fall Over 14% After Agency Studies Person Decline.’

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