Pinterest Shares Plunge Following Revenue Shortfall

The social media platform's disappointing revenue forecast and market value loss highlight challenges in the competitive digital ad space.

Pinterest's shares fell over 9% after reporting a revenue miss and a weaker-than-expected forecast, indicating struggles in the digital advertising market.
Despite the downturn, analysts remain optimistic about Pinterest's future, citing new partnerships with Google and Amazon, and growth in international markets.
The company's global monthly active users (MAUs) grew by 11% to 498 million, yet it faces stiff competition from larger social media giants.
Pinterest's market value plummeted, with estimates suggesting a loss of up to $3 billion on Friday.
Wall Street analysts raised their price targets on Pinterest stock, reflecting a positive outlook amidst the challenges.