Pinterest's Revenue Per User

Plus, Affirm’s conservative outlook

Today is Friday, February 9, 2024.

The Early Bird Index today is 68.02.

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Pinterest's Revenue Per User

Social media company Pinterest (NYSE: PINS) fell by 9.23% in after-hours trading on Thursday after posting mixed financial results.

Financials: Pinterest reported earnings of 53 cents per share in the past quarter, which was better than expected. But the revenue fell below estimates at $981 million.

Powering the Story: While revenue grew 12% in the quarter and the number of monthly active users jumped by 11%, Pinterest’s average revenue per user was just $2 and investors wanted more.

Outlook: Pinterest expects revenue in the current quarter to be between $690 million to $705 million, which is slightly lower than expected.

Stock Price: Pinterest is up 64% in the past 12 months, including a 7% increase in the past 30 days before these results came out.

Final Thoughts: It’s a tough time in the advertising and social media market - just ask Snap (NYSE: SNAP), which is down a lot this week. (Sponsored) is the world's largest community of alternative investors. If it's unique or outside the mainstream, we love it. We have 50,000+ subscribers, and getting new ones is like a knife through butter.


Notable Earnings Today: PepsiCo (Nasdaq: PEP), AMC Networks (Nasdaq: AMXC), W.P. Carey (NYSE: WPC), TELUS International (NYSE: TIXT), Enbridge (NYSE: ENB), Plains All American (Nasdaq: PAA), Blue Owl Capital (NYSE: OWL), Canopy Growth (Nasdaq: CGC), Catalent (NYSE: CTLT), Construction Partners (Nasdaq: ROAD), Essent Group (NYSE: ESNT), Magna International (NYSE: MGA), Mr. Cooper Group (Nasdaq: COOP), Newell Brands (Nasdaq: NWL), Proto Labs (NYSE: PRLB).

Notable IPOs Today: DIH Holdings US, Inc. Class A Common Stock (Nasdaq: DHAI), Metagenomi, Inc. Common Stock (Nasdaq: MGX), Telomir Pharmaceuticals, Inc. Common Stock (Nasdaq: TELO), Helix Acquisition Corp. II Class A Ordinary Shares (Nasdaq: HLXB).

Notable Equity Crowdfunding Campaigns Ending Today: Arrive (PicMii), Varsity Club (MainVest), Place (Wefunder), Plat Du Jour Bistro at the Wenham Tea House (Mainvest).

Notable Economic Events Today: N/A.

Affirm’s Conservative Outlook

Despite posting adequate financial results, shares of the buy now, pay later company Affirm Holdings (Nasdaq: AFRM) dropped by 12.60% in after-hours trading on Thursday.

Financials: Affirm reported a loss of 54 cents per share in the past quarter and revenue of $591.1 million; both were better than expected.

Details: Revenue is up 48% in the past quarter. Gross merchandise volume jumped 32% as the number of customers reached new heights.

Powering the Story: Affirm anticipates revenue in the current quarter between $530 million to $550 million, which was a bit too conservative for some investors.

Final Thoughts: Affirm’s stock is up a whopping 270% in the past year. But there are still a ton of concerns about the company’s business model in this environment. If the economy tanks, more consumers may default on their buy now, pay later loans from Affirm, which would be awful.

Cloudflare Jumps Thanks to Strong Results

Cloudflare (NYSE: NET) surged by 23.96% in after-hours trading on Thursday after the IT service management company posted strong financial results.

Financials: Cloudflare reported earnings of 15 cents per share in the past quarter and revenue of $362.5 million; both were better than expected.

Outlook: The company expects revenue in the current quarter to be between $372.5 million to $373.5 million, which is better than expected.

Final Thoughts: Cloudflare quietly jumped 55% in the past 12 months thanks to increased IT and cybersecurity spending. It’s a good environment for the company.

Big Achievement: S&P 500 Hits Intraday Record of 5000 (Wall Street Journal)

Trying to Stand Out: Welcome to the ‘Bitcoin Era’ on Wall Street (CoinDesk)

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