The photo-sharing platform on Tuesday projected current-quarter revenue below analysts' estimates, as it struggles to keep up with the competition from...
- Pinterest shares tumbled more than 12% premarket on Wednesday after a muted third-quarter outlook dashed Wall Street's expectations for a stabilization in its revenues amid a rebound in the digital ad market.
San Francisco, California-based Pinterest flagged material weakness in demand from advertisers in the consumer goods space, particularly food and beverage companies, which offset strength in ad spend in the technology and financial services sectors."The optics of a lighter guide will not help recently growing ad fears, and some will be concerned that food & beverage pressure — which has been isolated — could spread to other verticals with a potentially softer consumer," J.P.
Pinterest could take yet another hit from the lack of political ads on its platform, unlike Meta and Alphabet which are set to benefit from political advertising in the run-up to the U.S. elections.
Trade Desk Material Weakness Alphabet Digital Advertising
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