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Pinterest slips after revenue forecast that was in line with expectations

Investing.com -- Pinterest Inc (NYSE:PINS) shares were slipping after the social media platform beat expectations and offered guidance that was in line with forecasts.

Pinterest reported second quarter adjusted earnings per share of 21 cents a share on revenue of $708 million. Analysts expected adjusted earnings per share of 12 cents on revenue of $696.4M. Revenue was up 6%.

Shares were down 3.6% in after-hours trading.

Global monthly active users rose 8% to 465M, a faster pace than the first quarter’s 7% gain over the previous year, to 463M. Globally, average revenue per user dipped 1% to $1.53.

“In Q2, we continued to build momentum with consumers and advertisers while further accelerating our pace of innovation,” said CEO Bill Ready.

Pinterest sees third quarter revenue growing in the high single-digits range compared with the same period last year, about in line with expectations for growth of 7.6%.

The company just announced an arrangement with Amazon that allows advertisers to link to their products hosted on Amazon.com (NASDAQ:AMZN) through Pinterest.

Shares of Pinterest are up 19% this year.

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