Pinterest Shares Plunge 5% on Revenue Forecast Miss
<p><a href='https://financialmodelingprep.com/financial-summary/PINS'>Pinterest (NYSE:PINS)</a> shares dropped more than 5% yesterday after the company reported its Q4 results, with EPS coming in at $0.29, better than the Street estimate of $0.27. Revenue increased 4% to $877 million, compared to the Street estimate of $887.01 million. </p>
<p>Despite the beat, the company said it expects Q1/23 revenue to increase low-single-digits on a year-over-year percentage basis, weaker than the analysts’ estimates.</p>
<p>The company's engagement metrics finally stabilized in the U.S. (flat year-over-year) for the first time since pre-pandemic with management increasingly emphasizing 14% global mobile MAU (monthly active user) growth.</p>
<p>DAU/MAU was at an all-time high at 61% and seems at least partially driven by increasing viewership of short-form video which is now driving 30% of the business.</p>
<p>The company also announced a share repurchase program of up to $500 million over 12 months.</p>

NYSE:PINS