Pinterest Sees Q1 Revenue $690M-$705M vs $702.36M Est.
Portfolio Pulse from Benzinga Newsdesk
Pinterest projects Q1 2024 revenue to be between $690M-$705M, indicating a 15-17% year-over-year growth. Non-GAAP operating expenses are expected to range from $450M-$465M, a 9-13% increase from the previous year. This forecast slightly undercuts the estimated revenue of $702.36M.
February 08, 2024 | 9:09 pm
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NEGATIVE IMPACT
Pinterest's Q1 2024 revenue projection falls slightly below analyst expectations, with anticipated growth of 15-17% year-over-year and operating expenses increasing by 9-13%.
The slight miss in revenue expectations compared to analyst estimates could lead to short-term negative sentiment among investors. The projected increase in operating expenses, while indicative of growth, may also concern investors focused on profitability.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100