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Thursday, May 16, 2019

Pinterest (PINS) reported earnings on Thur 16 May 2019 (a/h)

Pinterest (NYSE: PINS) shared lukewarm first-quarter financials on Thursday after the closing bell in what was its first earnings report as a public company.
  • The digital pinboard went public in April, rising 25% during its first day trading on the New York Stock Exchange. Pinterest’s public market performance has continued to stay in the green, closing up about 8% Thursday at nearly $31 per share for a market cap of $16.7 billion.
  • Pinterest post-IPO performance comes in stark contrast to both Lyft and Uber’s treatment on their respective stock exchanges. Lyft, for its part, has fallen since its IPO despite an initial pop of 21%. In its first-ever earnings report as a public company, released last week, it posted first-quarter revenues of $776 million on losses of $1.14 billion, including $894 million of stock-based compensation and related payroll tax expenses. 

** chart before earnings **

** chart after earnings **

Pinterest misses by $0.21, reports revs in-line with prior guidance; guides FY19 revs below consensus

  • Reports Q1 (Mar) loss of $0.32 per share, $0.21 worse than the S&P Capital IQ Consensus of ($0.11); revenues rose 54.1% year/year to $201.9 mln vs the $200.64 mln S&P Capital IQ Consensus. In its IPO prospectus, it guided for revenue of $198.9-$201.9 mln.
  • Global MAU's increased 22% yr/yr to 291 mln.
  • Global ARPU increased 26% yr/yr to $0.73.
  • Adj. EBITDA margin improved to (19)% from (35)%.
  • Co issues downside guidance for FY19, sees FY19 revs of $1.055-$1.080 bln vs. $1.09 bln S&P Capital IQ Consensus. Sees Adjusted EBITDA of ($70)-($45) mln.

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