Pinterest Inc (NYSE:PINS) shares are trading higher in Wednesday's after-hours session after the company announced better-than-expected top-line results.
Pinterest said first-quarter revenue grew 18% year-over-year to $574.88 million, which beat the $572.79 million estimate, according to data from Benzinga Pro. The company reported a quarterly earnings loss of 1 cent per share, which was down from earnings of 11 cents per share in the prior year quarter.
Pinterest said global monthly active users decreased 9% year-over-year to 433 million.
Pinterest expects second-quarter revenue to grow 11% year-over-year, while operating expenses are expected to increase 10% quarter-over-quarter as the company ramps up investments in its native content ecosystem, experience, shopping and headcount across research and development and sales and marketing.
PINS 52-Week Range: $18.91 - $81.77
The stock was up 8.6% in after hours at $20.28 at press time.
Photo: Mike Mozart from Flickr.
