Pinterest's Operating Expenses

And, Airbnb can't capitalize on higher demand .

November 08, 2024

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Today is Friday, November 8, 2024.

The Early Bird Index today is 78.76.

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Pinterest's Operating Expenses

Despite posting good financial earnings results, the social media platform Pinterest (NYSE: PINS) plunged 12.58% in after-hours trading on Thursday.

Financials: Pinterest reported earnings of 40 cents per share in the past quarter and revenue of $898 million; both were better than expected.

Powering the Story: The company spent $904 million in the quarter, up from $768 million last year. The company also anticipates operating expenses to increase by 11% to 14%.

Early Bird’s Nest Egg Gains: Pinterest's operating expenses have increased significantly for several reasons.

  • The company has been heavily investing in AI technology to improve user experiences and advertiser performance.

  • Pinterest is also spending more on user acquisition and retention strategies.

Final Thoughts: The stock is down 6.30% this year, lagging behind other competitors.

Today’s Fastest Growing Company Might Surprise You

🚨 No, it's not the publicly traded tech giant you might expect… Meet $MODE, the disruptor turning phones into potential income generators.

Mode saw 32,481% revenue growth, ranking them the #1 software company on Deloitte’s 2023 fastest-growing companies list.

📲 They’re pioneering "Privatized Universal Basic Income" powered by technology — not government, and their EarnPhone, has already helped consumers earn over $325M!

Their pre-IPO offering is live at just $0.26/share – don’t miss it.

*Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.
*The Deloitte rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period.
*Please read the offering circular and related risks at invest.modemobile.com.

Notables

Notable Earnings Today: Canopgy Growth (Nasdaq: CGC), Bloomin' Brands (Nasdaq: BLMN), Gray Television (NYSE: GTN), NRG Energy (NYSE: NRG), American Axle (NYSE: AXL), Fluor (NYSE: FLR), Adient (NYSE: ADNT), Advanced Drainage Systems (NYSE: WMS), AMC Networks (Nasdaq: AMCX), ANI Pharma (Nasdaq: ANIP), Atmus Filtration Technologies (NYSE: ATMU), Baxter (NYSE: BAX), Calumet Specialty Products (Nasdaq: CLMT), CNH Industrial  (NYSE: CNH), Embraer (NYSE: ERJ) Flowers Foods (NYSE: FLO), Fortrea (Nasdaq: FTRE), Fulgent Genetics (Nasdaq: FLGT), Holley (NYSE: HLLY), Icahn Enterprises(Nasdaq: IEP), International Money Express (Nasdaq: IMXI), Koppers Holdings (NYSE: KOP), Lamar Advertising (Nasdaq: LAMR), PAR Technology (NYSE: PAR), Perella Weinberg Partners (Nasdaq: PWP), Plains All American (NYSE: PAR), RB Global (NYSE: RBA).

Notable IPOs Today: SJW Group Common Stock (Nasdaq: SJW), YHN Acquisition I Limited Ordinary Shares (Nasdaq: YHNA), A SPAC III Acquisition Corp. Unit (Nasdaq: ASPCU).

Notable Equity Crowdfunding Campaigns Ending Today: Destination Preservation (Netcapital), Arrive (PicMii).

Notable Economic Events Today: Michigan Consumer Expectations / Sentiment (10:00 p.m. ET), WASDE Report (12:00 p.m. ET).

Airbnb Can't Capitalize on Higher Demand 

Airbnb (Nasdaq: ABNB) fell 4.56% in after-hours trading on Thursday after reporting mixed financial earnings results.  

Financials: Airbnb reported earnings of $2.13 per share in the past quarter, which was worse than expected. Revenue reached $3.73 billion, which was better than expected.

Final Thoughts: The company talked about increased travel demand in its letter to investors yet still produced lower earnings. Airbnb was up 9% this year.

Sweetgreen Posts Weak Financial Results

The salad fast-casual chain Sweetgreen (NYSE: SG) decreased 10.64% in after-hours trading on Thursday after reporting bad financial earnings results.

Financials: Sweetgreen reported a loss of 18 cents per share in the past quarter and revenue of $173.4 million; both were worse than expected.

Final Thoughts: Sweetgreen’s stock is still up over 200% this year.

Bad Bet: DraftKings Posts Major Q3 Miss, Slashes 2024 Revenue Outlook (Investor’s Business Daily)

November to Remember: Ethereum fees poised for rebound amid L2, blob uptick (Cointelegraph)

Blocked: Block's stock tanks after revenue miss (American Banker)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.