Pinterest raised its full-year sales projection and reported second-quarter revenue above Wall Street approximates on Thursday, as the online scrapbook company included more users, sending its shares up 12 percent in prolonged trading.
The company said regular monthly active users increased 30 percent in the quarter to 300 million internationally, significantly above quotes, and the worldwide average earnings per user rose 27.5 percent to 88 cents.
“These numbers better show the strength of the Pinterest platform and fast adoption among both consumers and advertisers,” said Colin Sebastian, an analyst at Baird Equity Research.
The outcomes were driven by a mix of worldwide and United States growth and were likewise positively affected by a delayed Easter this year, the business stated.
“Pinterest has delivered exactly what financiers were looking for,” said James Cordwell, an expert at Atlantic Equities.
The San Francisco, California-based company said it expects 2019 profits between $1.095 billion and $1.115 billion, compared with its previous projection of $1.055 billion to $1.08 billion.
Total income in the 2nd quarter increased 62 percent to $261 million, above experts’ estimate of $235.5 million, according to IBES information from Refinitiv.
Shares of Pinterest, the most prominent social networks business to list in the United States since Snap in 2017, have increased about 50 percent because initial public offering in April.For the latest tech news follow EPICdigest on Instagram, Facebook, or Apple News.