Pinterest Beats Targets but Signals Slower Growth, Cuts 220 Jobs
Pinterest reported $1.18B revenue ahead of estimates but guided third-quarter revenue to imply slower growth of 13% to 15%, compared with the 18% investors had seen. It beat on adjusted EBITDA and raised its full-year outlook, yet cut 220 jobs the same day. Net loss was $46.7M, active buyers fell 0.4%, and monthly actives rose 11% to 640M; a $2B buyback follows a Depop sale to eBay.