Pinterest beat second-quarter estimates but warned of slower growth ahead, while Etsy also topped expectations and then cut 220 jobs, about 12% of its staff. Pinterest posted adjusted earnings of 43 cents a share versus the 36 cents analysts expected, with revenue of $1.18 billion against a $1.15 billion estimate, but guided third-quarter revenue to $1.19 billion to $1.21 billion, implying growth of just 13% to 15%, down from 18%. CEO Bill Ready said companies ignoring open-source AI models are wasting shareholder money, and CFO Julia Donnelly cited the non-repeating World Cup ad boost and European regulatory pressure on Asian retailers as reasons for the slowdown. Etsy reported revenue of $668.3 million, above the roughly $649 million expected, raised its full-year gross merchandise sales outlook to mid-single-digit growth, and announced a $2 billion buyback, but posted a $46.7 million net loss and a 0.4% drop in active buyers.
Apple Inc.
Amazon.com Inc
Etsy, Inc.Etsy beat revenue estimates, raised full-year outlook, and announced $2B buyback despite net loss and job cuts
Pinterest IncPinterest guided Q3 revenue growth down to 13-15% from 18%, citing slower growth ahead
