Investing.com - Shares of Pinterest plunged postmarket Thursday after the social media company reported a quarterly loss that was much wider than expected.
Pinterest (NYSE:PINS) stock sank more than 18% in after-hours trading. Shares had risen 7.8% in the regular session before the numbers came out.
The company lost 32 cents per share in the first quarter, double the loss of 16 cents per share forecast by analysts polled by Investing.com.
Revenue came in at $201.9 million, a tad higher than the $200.22 million predicted.
Global monthly active users jumped 22% from the year-ago period to 291 million. Average revenue per user rose 26% to $0.73 from the same period a year ago.
Looking ahead, the company said it predicts full-year revenue of $1.055 billion to $1.08 billion, just a bit lower than the S&P Capital IQ consensus of $1.09 billion.