Stock Alert: Pinterest Climbs 28% After Q2 Results

(RTTNews) - Shares of Pinterest, Inc. (PINS), a social media web and mobile application company, are rising 28 percent or $7.16 in Friday's morning trade at $32.35 after the company reported strong user growth and its revenue for the second quarter beat analysts' estimates.

Pinterest's global monthly active users or MAUs in the second quarter grew 39 percent year over year to 416 million.

Pinterest's net loss for the second quarter narrowed to $100.75 million or $0.17 per share from $1.16 billion or $2.62 per share in the year-ago period, while analysts polled by Thomson Reuters had a consensus estimate of loss of $0.13 per share.

Revenue grew 4 percent to $272.49 million from $261.25 million in the prior-year quarter. The Street expected revenues of $251.24 million.

The company said that due to uncertainties related to the COVID-19 pandemic, it is not providing outlook for fiscal 2020 revenue or adjusted EBITDA.

Pinterest has traded in a range of $10.10 to $36.83 in the past 52 weeks.