Pinterest Stock Blasts 36% Higher on Q2 Beats

Pinterest (NYSE: PINS) had its best-ever day on the stock exchange Friday, zooming near an all-time high on the back of the company's latest quarterly figures.

The hobby-pinning site operator released its Q2 results, which showed that revenue rose by 4% on a year-over-year basis to $272 million. That was supported by a 39% growth in the company's global monthly active users (MAUs) to 416 million.

As for the bottom line, Pinterest's adjusted loss deepened to just shy of $38.4 million ($0.07 per share), from the year-ago shortfall of $24.5 million. 

A Pinterest website page open on a laptop located on a dining table.

Image source: Pinterest.

However, analysts tracking the stock were, on average, anticipating only a top line of just over $251 million, and a significantly worse adjusted per-share net loss of $0.13.

Investors stuck a gold pin in Pinterest's shares on Friday. The stock closed a whopping 36% higher, making it one of the best-performing titles on the market, particularly among consumer goods companies. That rise also contrasted sharply with the declines of the top equity indexes on the day.

Pinterest management said that the current trend of people staying effectively quarantined at home in the wake of the coronavirus outbreak benefits the company.

"In these tough times, we're seeing more and more people rely on Pinterest to cook at home, plan kids' activities, and set up a home office," CEO Ben Silbermann said. "Businesses are helping them turn their ideas into reality as people are increasingly discovering and buying products on Pinterest."

10 stocks we like better than Pinterest
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Pinterest wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks


*Stock Advisor returns as of June 2, 2020


Eric Volkman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Pinterest. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Latest Markets Videos

The Motley Fool

Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Learn More