Pinterest shares tumble on weak guidance

Pinterest shares sank about 15% when the company reported its second-quarter earnings on Tuesday and provided third-quarter guidance that was lower than analyst estimates. The company's sales jumped 21% year-over-year in the second quarter, while its GAAP net income was $9 million. During the second quarter of 2023, Pinterest recorded a net loss of $35 million during the same period when its total costs and expenses were $781 million. "Our monetization efforts are paying off," Pinterest CEO Bill Ready said ...