Pinterest stock – pressnews

[ad_1] Pinterest surged after reporting third-quarter revenue that beat analysts’ estimates, standing out from its social media peers in a difficult market. Pinterest Inc. surged after reporting third-quarter revenue that beat analysts' estimates, standing out from its social media peers in a difficult market. Third-quarter sales grew 8% to $684.55 million, the company said, topping the average analyst estimate for $666.85 million. Monthly active users also grew slightly to 445 million, from 444 million in the year-ago period, after three straight quarters of declines. The stock gained about 8% in premarket trading on Friday before exchanges opened in New York. Pinterest's shares had fallen 40% this year through Thursday's close. Pinterest stands out “amidst the wreckage that h...

[ad_1] Companies that rely on digital advertising tumbled in postmarket trading, after Snap Inc. reported its slowest quarterly sales growth on record. Companies that rely on digital advertising tumbled in postmarket trading Thursday, after Snap Inc. reported its slowest quarterly sales growth on record. Pinterest Inc. lead the declines with a slump of as much as 9.4% and Meta Platforms fell 5.2% after the Snapchat parent said third-quarter sales increased a mere 6% and added that platform policy changes, macroeconomic headwinds and increased competition led to a decline in advertising spending. Trade Desk Inc. tumbled 5.9% and Roku Inc. fell 3.6%, while Google's Alphabet Inc. lost about 3%. Twitter Inc., which is being acquired by Elon Musk, slipped 0.3%. Social media platform...