Yahoo Finance Earnings To Watch: Pinterest (PINS) Reports Q2 Results Tomorrow
Social commerce platform Pinterest (NYSE: PINS) will be reporting results tomorrow after the bell. Here's what to look for.
Pinterest beat analysts' revenue expectations by 5.7% last quarter, reporting revenues of $740 million, up 22.8% year on year. It was an impressive quarter for the company, with strong sales guidance for the next quarter and solid growth in its users. It reported 518 million monthly active users, up 11.9% year on year.
Is Pinterest a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Pinterest's revenue to grow 19.8% year on year to $848.1 million, improving from the 6.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.28 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Pinterest has missed Wall Street's revenue estimates three times over the last two years.
Looking at Pinterest's peers in the consumer internet segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Netflix delivered year-on-year revenue growth of 16.8%, meeting analysts' expectations, and Coursera reported revenues up 10.8%, topping estimates by 3.5%. Netflix traded down 1.5% following the results while Coursera was up 45.1%.
Read our full analysis of Netflix's results here and Coursera's results here.
There has been positive sentiment among investors in the consumer internet segment, with share prices up 2.8% on average over the last month. Pinterest is down 12.7% during the same time and is heading into earnings with an average analyst price target of $46.4 (compared to the current share price of $37.6).
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