"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2019-04-22T14:14:25Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2019/04/22/pinterest-ceo-ipo.cnn-business"
data-branding-key=""
data-video-slug="pinterest ceo ipo"
data-first-publish-slug="pinterest ceo ipo"
data-video-tags="banking, finance and investments,ben silbermann,business figures,business, economy and trade,companies,financial markets and investing,financing and stock offering,initial public offering,pinterest"
data-details="">
Video Ad Feedback
Pinterest CEO: Markets reward companies that grow value over time
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2019-04-22T14:14:25Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2019/04/22/pinterest-ceo-ipo.cnn-business"
data-branding-key=""
data-video-slug="pinterest ceo ipo"
data-first-publish-slug="pinterest ceo ipo"
data-video-tags="banking, finance and investments,ben silbermann,business figures,business, economy and trade,companies,financial markets and investing,financing and stock offering,initial public offering,pinterest"
data-details="">
Video Ad Feedback
Pinterest CEO: Markets reward companies that grow value over time
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2019-05-10T18:51:59Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2019/05/10/uber-wall-street-debut-john-tuttle-nyse.cnn-business"
data-branding-key=""
data-video-slug="uber wall street debut john tuttle nyse"
data-first-publish-slug="uber wall street debut john tuttle nyse"
data-video-tags="banking, finance and investments,business, economy and trade,companies,financial markets and investing,financing and stock offering,initial public offering,new york stock exchange,securities trading,stock markets,uber,wall street"
data-details="">
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2019-04-17T19:43:59Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2019/04/17/casper-ceo-philip-krim-ipo-market.cnn-business"
data-branding-key="markets-now"
data-video-slug="Casper CEO Philip Krim IPO market"
data-first-publish-slug="Casper CEO Philip Krim IPO market"
data-video-tags="banking, finance and investments,business executives,business, economy and trade,financial markets and investing,financing and stock offering,initial public offering,labor and employment,workers and professionals"
data-details="">
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2018-10-03T19:04:09Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2018/10/03/airbnb-orig.cnn-business"
data-branding-key=""
data-video-slug="Airbnb orig"
data-first-publish-slug="Airbnb orig"
data-video-tags="airbnb,business and industry sectors,business, economy and trade,companies,company activities and management,company structure and ownership,entrepreneurship,home exchange,hotel chains,hotels and motels,lodging,sharing and on-demand economy,travel and tourism"
data-details="">
Video Ad Feedback
Here's how Airbnb went from air mattresses to rental empire
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2018-11-19T20:27:03Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2018/11/19/human-code-uber-ceo-dara-khosrowshahi.cnn-business"
data-branding-key="the-human-code"
data-video-slug="Human Code Uber CEO Dara Khosrowshahi"
data-first-publish-slug="Human Code Uber CEO Dara Khosrowshahi"
data-video-tags="business executives,business figures,companies,dara khosrowshahi,labor and employment,uber,workers and professionals"
data-details="">
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2019-03-01T17:30:02Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2019/03/01/lyft-files-for-ipo.cnn-business"
data-branding-key=""
data-video-slug="lyft files for ipo"
data-first-publish-slug="lyft files for ipo"
data-video-tags="banking, finance and investments,business and industry sectors,business, economy and trade,car sharing,companies,economic indicators,economy and economic indicators,financial markets and investing,financing and stock offering,ground transportation,initial public offering,lyft,nasdaq,securities trading,sharing and on-demand economy,stock indexes,stock markets,transportation and warehousing"
data-details="">
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2019-02-18T13:26:45Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2019/02/15/lyft-founder-car-ownership-boss-files-orig.cnn"
data-branding-key="boss-files"
data-video-slug="Lyft founder car ownership boss files orig"
data-first-publish-slug="Lyft founder car ownership boss files orig"
data-video-tags="automotive economic indicators,automotive industry,business and industry sectors,business, economy and trade,car sharing,companies,company activities and management,ground transportation,lyft,motor vehicles,product development,product innovation,product management,self-driving cars,sharing and on-demand economy,technology,transportation and warehousing"
data-details="">
Video Ad Feedback
Lyft founder: Our goal is to eliminate car ownership
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2019-03-27T18:43:45Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2019/03/27/lyft-origins.cnn-business"
data-branding-key=""
data-video-slug="lyft origins"
data-first-publish-slug="lyft origins"
data-video-tags="business and industry sectors,business, economy and trade,car sharing,companies,ground transportation,lyft,sharing and on-demand economy,transportation and warehousing,uber"
data-details="">
Video Ad Feedback
Here's how Lyft became the 'friendly' rideshare app
01:12
Now playing
- Source:
CNN Business
New YorkCNN Business
—
Pinterest’s honeymoon on Wall Street may be over.
Pinterest
(PINS) said Thursday that it lost $41.4 million, or $0.33 per share, in the first three months of 2019, down from a loss of $52.7 million, or $0.42 per share in the year prior.
Despite shrinking its losses, Pinterest fell short of the consensus estimate among analysts for it to report a loss of $0.11 per share in the quarter. Complicating matters, however, is the fact that some analysts may have miscalculated Pinterest’s share count, impacting estimates for earnings per share.
Shares of Pinterest fell more than 15% in after-hours trading Thursday following its first earnings report as a public company.
Prior to the release, Pinterest had seen shares soar more than 50% above its IPO price since its Wall Street debut last month. The strong early performance set it apart from other recent tech unicorns that have gone public, including Uber and Lyft, which quickly fell below their IPO prices.
Pinterest, a social platform for bookmarking pictures from around the web, now has 291 million monthly active users globally, a 22% increase from the year prior, but still far less than peers like Facebook
(FB) and Instagram, which measure their audiences in the billions.
“The IPO was a significant milestone, but our focus at Pinterest hasn’t changed. We want to help people discover inspiring ideas for every aspect of their lives, from fashion and home decor to travel and fitness,” Ben Silbermann, cofounder and CEO of Pinterest, said in a statement Thursday.
The company is also working to make more money from the people who use its site.Its average revenue per user in the US jumped 41% from the year prior to $2.25. Abroad, however, it has a long way to go. It generated just $0.08 in revenue per user internationally.
On a conference call with analysts Thursday, Pinterest executives noted that the company only recently began offering advertising options for some of its markets abroad. This year, Pinterest expanded its ad platform to Germany, Austria, Spain and Italy.
“This is an important year of investment for us as we think about diversifying our advertiser base,” Todd Morgenfeld, Pinterest’s CFO, said on the call.
Morgenfeld said Pinterest expects revenue from its international efforts to be more meaningful in 2020.
Overall, Pinterest posted revenue of $202 million in the quarter, a 54% increase from the same period a year ago, with nearly all of it coming from the US market.
For years, Pinterest has flown below the radar compared to its rivals. It has also long insisted it’s not a social media service, despite building an ad-based platform where users can follow friends, colleagues and brands, and view their daily posts in a feed.
And, like most social media companies that came before it, Pinterest may have a bumpy road ahead in proving itself to Wall Street investors in its first months as a public company.
Update: This story has been updated to clarify how Pinterest’s loss compared to estimates and to add information about potential discrepancies among analysts over how those estimates were calculated. ?