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Pinterest had a turnover of $ 131.4 million in the quarter and a 38 percent adjusted net loss per share.
Pinterest said the entire year is expected to see revenue between $ 1.06 billion and $ 1.08 billion lower than the expected $ 1.09 billion.
Shares fell 17.17% to $ 25.56 each per ET, falling below $ 26 per share for the first time since the end of April.
San Francisco, California-based reported 291 million monthly active users for the first quarter, in line with the guidance the company provided in its prospect earlier this year. Pinterest's user base has grown consistently quarterly since June, to a size competing with other social media. Pinterest ended in 2018 with 265 million monthly active users.
Twitter posted 330 million monthly active users in the first quarter, while Snap posted daily active users of 190 million (and did not break out first quarter monthly active users). However, Pinterest's ecosystem is still dwarfed by Facebook, as posted the first-quarter monthly active users north of 2 billion.
For the first quarter of last year, carefully monitored average revenue per asset spent $ 2.25 per US user and 8 cents per international user. As with many social media, Pinterest achieves more revenue from each domestic user, due to a more mature domestic digital advertising market. International sales accounted for less than 8% of Pinterest's total quarterly sales.
Based on Thursday's results, optimistic growth prospects contributed to Pinterest avoiding the fate of some of the other consumer-technical unicorns or private companies valued over $ 1 billion. Uber and Lyft, the two hottest unicorn launches, have seen their stock prices slip as enthusiasm over their public offerings quickly.
However, Pinterest's growth story took a hit, as it was weaker than expected sales guidance for the year.
<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Pinterests stock jumped 28% in its & nbsp; first trading day in April, and ending at $ 24.40 after pricing IPO of $ 19. During the weeks thereafter, Pinterest's stock continued to climb and closes over $ 30 each on Thursday for a 62% gain since pricing its IPO. "data-response time =" 34 "> Pinterest's share jumped 28% on its first trading day in April, ending at $ 24.40 after having priced its $ 19 IPO. Over the next few weeks, Pinterest's shares have continued to climb and close over $ 30 each on Thursday for a 62% gain since IPO pricing.
Despite the early rally, some analysts remained lepers on Pinterest and were waiting for the dust to decide further on their IPO.
"The only thing that gives us a break is the current 12x 2020 revenue multipart, and the Mobile Advertising IPO trajectory is sharply following the first post-IPO pop, Barclays analyst Ross Sandler wrote in a note in front of the results.
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<p class =" canvas-atom canvas text Mb Em) McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck ] "data-reaktid =" 39 "> Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck
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