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Pinterest jumps more than 25% on earnings beat as tech stocks bounce back

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Ben Silbermann is the co-founder and chief operating officer at Pinterest Inc.

Michael Nagle | Bloomberg | Getty Images

PinterestAfter the company’s fourth quarter earnings report and its sales beat Wall Street expectations, stock prices rose by more than 28% on Thursday.

Here’s how Pinterest did versus Refinitiv consensus estimates:

  • EPS: $0.49, adjusted, versus $0.45 expected.
  • Revenue:847 Million versus $827 Million expected. This is a 20% increase year-over-year

Pinterest stated that its first quarter revenues would rise “in the teens” each year, which is in line with analysts’ expectations for an 18% increase.

Pinterest stated that it saw a decrease in global monthly users (a critical metric used to assess the health of a social media network) by 6% over the past year, reaching 431 million. The number of monthly active US users fell 12% to 86million during the third quarter.

However, the average revenue per global user increased 23% during this quarter to $1.93.

Pinterest shares had fallen 10% Thursday morning before this report. Meta, the social network competitor to Pinterest, published an update. outlook worse than expectationsInvestors were forced to dump social media stocks after they came up empty on Wednesday.

Pinterest shares recovered from all losses, and gained more after Thursday’s market close. bullish reportSource: Competitor Snap.

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