Pinterest Inc.'s shares plummeted over 15% after the market closed on Thursday due to disappointing projections on its third-quarter earnings report for the fiscal year 2024.
Although Pinterest surpassed what analysts had predicted, it announced that its revenue for the fourth quarter is expected to range from $1.125 billion to $1.145 billion. The central figure in this projection, $1.135 billion, was slightly below the analysts' forecast, which was pegged at $1.143 billion.
The company's stock tumbled by 15.80% and sold for $28.57 in after-hours trading.
