Pinterest shares rocket 38% on user growth and advertising in Q2
Summary
Pedestrians pass in front of Pinterest signage displayed outside of the New York Stock Exchange. Pinterest shares rocketed more than 38% in pre-market trading Friday morning after the company reported second-quarter earnings which reflected how people turned to the service for at-home cooking, remote work and activities during the stay-at-home orders. The company saw total revenue of $272 million, an increase of 4% year-over-year, though it said advertiser demand continued to be affected by the pandemic. "They needed a service that helped them adjust to radically changed circumstances — one that inspired them to cook at home, build vegetable gardens, plan activities for their kids and set up remote offices and home gyms, to name just a few typical COVID-19-related use cases we saw during the quarter. He said thats in part because Pinterest is a place with strong commercial intent and where advertisers can get traction without having ads displayed near controversial content.