Category: Ben Silbermann

May 16, 2019 Off

Pinterest delivers first earnings report as a public company

By Jill T Frey

Pinterest (NYSE: PINS) shared lukewarm first-quarter financials on Thursday after the closing bell in what was its first earnings report as a public company.

The company, led by co-founder and chief executive officer Ben Silbermann, posted revenues of $202 million on losses of $41.4 million for the three months ending March 31, 2019. This surpassed Wall Street’s revenue estimates of about $200 million and represented significant growth from last year’s Q1 revenues of $131 million. Losses, however, came in roughly three times higher than estimates at 32 cents per share.

The digital pinboard went public in April, rising 25% during its first day trading on the New York Stock Exchange. Pinterest’s public market performance has continued to stay in the green, closing up about 8% Thursday at nearly $31 per share for a market cap of $16.7 billion.

“The IPO was a significant milestone, but our focus at Pinterest hasn’t … Read the rest