Pinterest Falls 19% on Its First Earnings Report, Previewing a Troubling Post-Tech IPO Trend

Like Lyft, Pinterest's net loss was larger than Wall Street's expectations. What's next?


17 May, 2019FORTUNE.COM

Pinterest Falls 19% on Its First Earnings Report, Previewing a Troubling Post-Tech IPO Trend | BEAM

The bullish tech IPO market of early 2019 faced another setback Thursday as Pinterest, which has seen its stock price soar following its listing a month ago, delivered its first-ever earnings report. The numbers were largely below what investors were hoping for, causing the stock to fall as much as 19% in after-hours trading.

Pinterest said revenue in the first quarter rose 54% to $201.9 million, or slightly above the $200.7 million consensus estimate among Wall Street analysts. But the company also posted a GAAP net loss of 33 cents a share. Adjusted for items such as stock-based compensation, Pinterest’s net loss totaled 32 cents a share. Analysts had been expecting an adjusted net loss of 11 cents a share, according to FactSet....

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