Pinterest (PINS) reported its 2Q24 earnings result on 30 July 2024 in after-market hours. The Q2 result was strong: revenue of $853.7 million grew 21% year-over-year, handily beating management’s Q2 guidance of 18-20% revenue growth and coming in above Bloomberg Q2 revenue estimates of $848.2 million. Adjusted EPS of $0.29 also beat consensus estimates of $0.28. However, the stock sold off by almost 14%, after initially falling more than 20% in after hours trading. The culprit seemed to be a soft Q3 revenue guidance. We will give our thoughts on the result as well as incremental data points from the result that help us frame the longer-term opportunity for the business.
Result highlights
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