Pinterest (PINS) Q2 Earnings: What To Expect

Adam Hejl /
2023/07/31 6:16 am EDT

Social commerce platform Pinterest (NYSE: PINS) will be reporting earnings tomorrow afternoon. Here's what to look for.

Last quarter Pinterest reported revenues of $602.6 million, up 4.82% year on year, beating analyst revenue expectations by 1.68%. It was a mixed quarter for the company, with a decent beat of analysts' revenue estimates but slow revenue growth. The company reported 463 million monthly active users, up 6.93% year on year.

Is Pinterest buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Pinterest's revenue to grow 4.47% year on year to $695.7 million, slowing down from the 8.6% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.12 per share.

Pinterest Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.

Looking at Pinterest's peers in the consumer internet segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. Meta delivered top-line growth of 11% year on year, beating analyst estimates by 3.12% and Snap reported revenue decline of 3.89% year on year, exceeding estimates by 0.71%. Meta traded up 6.44% on the results, Snap was down 16.2%. Read our full analysis of Meta's results here and Snap's results here.

There has been positive sentiment among investors in the consumer internet segment, with the stocks up on average 9.22% over the last month. Pinterest is up 4.96% during the same time, and is heading into the earnings with analyst price target of $30.18, compared to share price of $28.59.

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The author has no position in any of the stocks mentioned.