Earnings To Watch: Pinterest (PINS) Reports Q4 Results Tomorrow
Stock Story
Published Feb 07, 2024 02:02AM ET
Updated Feb 07, 2024 07:01AM ET
Earnings To Watch: Pinterest (PINS) Reports Q4 Results Tomorrow
Social commerce platform Pinterest (NYSE: NYSE:PINS) will be reporting results tomorrow afternoon. Here's what you need to know.
Last quarter Pinterest reported revenues of $763.2 million, up 11.5% year on year, beating analyst revenue expectations by 2.7%. It was a good quarter for the company, with revenue exceeding expectations, driven by better-than-expected growth in monthly active users. Its adjusted EBITDA and EPS also topped estimates. The company reported 482 million monthly active users, up 8.3% year on year.
Is Pinterest buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Pinterest's revenue to grow 12.8% year on year to $989.6 million, improving on the 3.6% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.51 per share.
The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing seven upwards revisions over the last thirty days.The company missed Wall St's revenue estimates twice over the last two years.
Looking at Pinterest's peers in the consumer internet segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Meta (NASDAQ:META) delivered top-line growth of 24.7% year on year, beating analyst estimates by 2.4% and Snap reported revenues up 4.7% year on year, missing analyst estimates by 1.5%. Meta traded up 20.3% on the results, and Snap was down 29.5%.
Read the full analysis of Meta's and Snap's results on StockStory.
Investors in the consumer internet segment have had steady hands going into the earnings, with the stocks down on average 0.4% over the last month. Pinterest is up 4.3% during the same time, and is heading into the earnings with analyst price target of $40.3, compared to share price of $39.4.
The author has no position in any of the stocks mentioned.
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