{"id":123372,"date":"2024-11-08T06:54:52","date_gmt":"2024-11-07T23:54:52","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=123372"},"modified":"2024-11-08T06:54:52","modified_gmt":"2024-11-07T23:54:52","slug":"pinterests-forecast-disappoints-investors-seeking-holiday-season-ad-boost","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=123372","title":{"rendered":"Pinterest&#8217;s forecast disappoints investors seeking holiday season ad boost"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->By Jaspreet Singh<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->(Reuters) -Pinterest&#8217;s (<a data-i13n=\"cpos:1;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/PINS\" data-ylk=\"slk:PINS;cpos:1;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">PINS<\/a>) fourth-quarter revenue forecast failed to impress investors looking for a boost from the upcoming holiday shopping season, at a time when bigger online ad sellers largely outperformed, sending its shares down 11% in extended trading on Thursday.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->The San Francisco, California-based company also announced a new stock buyback program of up to $2 billion and canceled the September 2023 program under which $500 million were left for repurchase.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Pinterest&#8217;s results follow quarterly reports by digital ad bellwethers \u2013 including Google-parent Alphabet, Meta Platforms, Reddit and Snap \u2013 which posted upbeat third quarter revenue, helped by robust ad spending.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->The image-sharing platform faces stiff competition from the likes of Meta-owned Facebook and Instagram, which have become the go-to platforms for advertisers because of their larger user base.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Pinterest released Performance+ suite in October, helping advertisers better target users with new AI tools and automation features on the platform.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->&#8220;Performance+ is still in the early rollout phase, with many advertisers limiting budget shifts and adoption of new features during holiday peak period,&#8221; CFO Julia Donnelly said on a post-earnings call.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->The company is also seeing &#8220;softness&#8221; among food and beverage advertisers, Donnelly said.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Pinterest forecast fourth-quarter revenue to be between $1.13 billion and $1.15 billion, the midpoint of which was in line with analysts&#8217; average estimate of $1.14 billion, according to data compiled by LSEG.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->It forecast quarterly adjusted operating expenses between $495 million to $510 million, growing 11% to 14% from a year earlier, driven by investments in AI talent and product initiatives.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->&#8220;Pinterest&#8217;s Q3 continues a streak of smaller social media competitors orbiting Meta gaining ground with advertisers,&#8221; Emarketer analyst Daniel Konstantinovic said.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->The company&#8217;s &#8220;steep jump&#8221; in expenses show that its smaller size does not exclude it from scrutiny around costs, Konstantinovic added.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Revenue for the third quarter grew 18% to $898.4 million, compared with estimates of $896.4 million.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Adjusted profit per share for the quarter came in at 40 cents, compared with estimates of 34 cents.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Global monthly active users on the platform rose 11% to 537 million in the July-to-September period, compared with estimates of 531.5 million.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->(Reporting by Jaspreet Singh in Bengaluru; Editing by Shailesh Kuber)<!-- HTML_TAG_END --><\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/finance.yahoo.com\/news\/pinterest-beats-quarterly-estimates-digital-210749147.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Jaspreet Singh (Reuters) -Pinterest&#8217;s (PINS) fourth-quarter revenue forecast failed to impress investors looking for a boost from the upcoming holiday shopping season, at a time when bigger online ad &hellip; 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