Pinterest Stock Is Soaring, And Investors Can Take Advantage Of Tech Innovation via Qai_Invest
, Pinterest’s revenue grew 9% year-over-year. Still, this growth missed expectations, with revenue sitting at $666 million versus the $667 million expected. Adjusted EPS also missed, hitting just 11 cents versus 18 expected.
This new strategy may serve Pinterest well in the future, as its advertisers have pulled back spending substantially. After Pinterest released its Q2 results, Elliott said in a statement: “As the market-leading platform at the intersection of social media, search and commerce, Pinterest occupies a unique position in the advertising and shopping ecosystems, and CEO Bill Ready is the right leader to oversee Pinterest’s next phase of growth.”
Pinterest recently – and quietly – launched the development phase of a new iOS app, Shuffles. This social app and mood board helps users assemble unique collages. The final product can be saved, shared, browsed and even “remixed” by other users. Launched last November, TwoTwenty fosters experimentation and new ideas to increase innovation. In particular, Pinterest hopes that TwoTwenty will help the firm transition from just an idea pinboard to an ecommerce-based creativity behemoth.
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