Pinterest shares jumped on better-than-expected user numbers even as earnings and revenue missed estimates and the company gave weak guidance for the third quarter.
Activist investor Elliott Management confirmed separately that it’s Pinterest’s top investor and said it has “conviction in the value-creation opportunity” at the company.
Here’s how the company did.
- Earnings: 11 cents adjusted per share vs. 18 cents per share expected, according to Refinitiv.
- Revenue: $666 million vs. $667 million expected, according to Refinitiv.
Pinterest said global monthly active users declined by 5% from a year earlier to 433 million. While that sort of drop-off is alarming for a social media app that…