Image-sharing platform Pinterest Inc reported lower-than-expected quarterly revenue on Monday joining peers Alphabet Inc and Snap Inc in sounding the alarm on a still-weak ad market.
The company had taken cost cutting measures including reductions to recruiting staff and closures of some smaller and less utilized office spaces to reduce its expense profile in 2023, Morgenfeld added.
The company's global monthly active users grew 4% to 450 million, but fell below estimates of 452.3 million.
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