Pinterest Surges on Sales Lift as Advertisers, Users Return
The Pinterest Inc. application.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Pinterest Inc. surged as much as 37% after it said revenue in July jumped from a year earlier as advertisers and users returned to the social-sharing service.
The company estimated year-over-year sales growth of about 50% for this month, through July 29. “We are encouraged by the performance of our business,” it said in a statement on Friday. “But a tremendous amount of uncertainty remains given the ongoing COVID-19 pandemic and other factors.”