By: Emily Bary - MarketWatch
Shares of Pinterest Inc. falls off more than 10% in after-hours trading Tuesday after the company experiences margin pressure in the current environment. Pinterest pre-announced some results in early April.
The company posted a net loss of $141 million, or 25 cents a share, after a loss of $41 million, or 33 cents a share, in the year-earlier quarter. Pinterest recorded an adjusted loss of 10 cents a share, compared with its loss of 32 cents a share a year prior. Analysts surveyed by FactSet were modeling a net loss per share of 9 cents.
Pinterest's revenue grew to $272 million from $202 million, while analysts were calling for $269 million. The company said it had 367 million monthly active users in the quarter. Analysts expected 363 million after the preannouncement.
Pinterest shares have declined 5% over the past three months as the S&P 500 has declined 14%.