Pinterest Shares Crushed After Big Q1 Earnings Miss

Pinterest Inc (NYSE: PINS) shares are getting crushed after reporting its first earnings report as a public company.

Adjusted first-quarter earnings came in at $(0.32), missing estimates by 21 cents. Sales came in at $201.911 million, beating estimates by $1.3 million.

The company sees 2019 sales of $1.055 billion-$1.08 billion and an adjusted EBITDA loss of $70 million-$45 million.

"The IPO was a significant milestone, but our focus at Pinterest hasn’t changed. We want to help people discover inspiring ideas for every aspect of their lives, from fashion and home decor to travel and fitness," said Ben Silbermann, Co-Founder, President and CEO of Pinterest.

"We were particularly encouraged by the strength we saw in U.S. revenue and international user growth," CFO Todd Morgenfeld said in the release. "Our strong revenue performance allowed us to expand net margin by 20 percentage points year-over-year, reflecting our continued prioritization and disciplined execution across our strategic priorities."

Related Link: The Street Is Out With Pinterest Ratings

Highlights

• Revenue up 54 percent year-over-year
• Net loss up 21 percent year-over-year
• Global ARPU up 26 percent to $0.73
• International revenue up 107 percent year-over-year

Pinterest shares were down 12.8 percent at $26.90 in after-hours trading. The stock closed at $30.86.