2023-05-01 06:09:00 ET
It isn't easy being an ad-supported social media network these days. Shares of Pinterest (NYSE: PINS) recently fell more than 15% after the company reported first-quarter earnings.
Usage of the site is up, but fear of a global recession is still pressuring ad sales. Plus, the company had to deal with some big restructuring costs. As a result, Pinterest's operating income swung from a modest gain in the fourth quarter of last year to a heavy loss of $244 million in the first quarter of this year.
Pinterest's increasing losses are disturbing, but this is still the most popular place on the internet for seeing things you want to spend money on. Selling the stock now could prove to be a costly mistake you never forgive yourself for. Before you do anything rash, let's look a little closer at recent results.
For further details see:
Pinterest's Profitibility Slipped Again. Time to Sell?