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An earlier version of this article referred to second-quarter results for Pinterest instead of third-quarter results. The article has been updated.
Bloomberg News/Landov Pinterest Inc. reported third-quarter results Thursday.
Pinterest Inc. stock plunged in late trading Thursday as revenue growth that was cheered in its previous earnings report did not continue.
Pinterest PINS, -3.01% reported a net loss of $124.7 million, or 23 cents a share, on revenue of $279.7 million, up from $190.2 million a year ago. That represents revenue growth of roughly 47%, after the previous quarter’s results showed growth of 62% and shoved shares higher in response.
After adjusting for stock-based compensation and other costs, Pinterest reported earnings of a penny a share, up from an adjusted loss of 12 cents a share a year ago. Analysts surveyed by FactSet had expected an adjusted loss of 4 cents a share on revenue of $281 million.
Pinterest, which went public in April at $19, closed Thursday with a 3.1% decline at $25.13, then plummeted nearly 20% to less than $21 a share in after-hours trading following the release of the results.
