Social commerce platform Pinterest (NYSE: PINS) will be reporting results this Monday after market close. Here’s what investors should know.
Pinterest missed analysts’ revenue expectations last quarter, reporting revenues of $1.32 billion, up 14.3% year on year. It was a disappointing quarter for the company, with revenue guidance for next quarter missing analysts’ expectations significantly and EBITDA guidance for next quarter missing analysts’ expectations significantly. It reported 619 million monthly active users, up 11.9% year on year.
Is Pinterest a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Pinterest’s revenue to grow 12.8% year on year, slowing from the 15.5% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Pinterest has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Pinterest’s peers in the consumer internet segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Reddit delivered year-on-year revenue growth of 69.1%, beating analysts’ expectations by 8.8%, and Meta reported revenues up 33.1%, topping estimates by 1.4%. Reddit traded up 12.5% following the results while Meta was down 9.2%.
Read our full analysis of Reddit’s results here and Meta’s results here.
There has been positive sentiment among investors in the consumer internet segment, with share prices up 11.1% on average over the last month. Pinterest is up 11.2% during the same time and is heading into earnings with an average analyst price target of $23.16 (compared to the current share price of $20.29).
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