Pinterest Swings To Loss In Q1
(RTTNews) - Pinterest, Inc. (PINS) on Monday reported first-quarter results with revenue increasing from last year, though the company swung to a net loss amid higher costs.
The company posted a net loss of $73.6 million, or $0.12 per share, compared with net income of $8.9 million, or $0.01 per share, in the year-ago period.
Revenue rose to $1.01 billion from $855.0 million in the same period last year, driven by continued growth in its advertising business.
PINS is currently trading at $24.67, up $3.81 or 18.26 percent on the New York Stock Exchange.
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