Pinterest's share price dropped over 10% following the release of mixed financial results that indicated slowing growth. The company reported a 17% increase in revenue to $998 million for the second quarter, down from 21% the year prior. Monthly active users rose to 578 million, with crucial growth in the US and Canada, where revenue per user is significantly higher. The CEO expressed confidence in Pinterest's evolution into a personalized shopping platform for users and an AI-driven solution for advertisers, emphasizing an effective product market fit.
Pinterest stock price crashed over 10% after mixed financial results, indicating weakening growth despite a significant rise in annual revenue over the past few years.
Despite growing user numbers, Pinterest's revenue growth has deteriorated, with a 17% increase in the latest quarter compared to 21% the previous year.
The platform's growth in the US and Canada remains critical, as this division shows significantly higher revenue per user compared to Europe and other regions.
Pinterest's CEO expressed confidence in the company's transformation into a personalized shopping destination, highlighting a strong product market fit.
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