Pinterest (PINS +2.06%) had its best-ever day on the stock exchange Friday, zooming near an all-time high on the back of the company's latest quarterly figures.
The hobby-pinning site operator released its Q2 results, which showed that revenue rose by 4% on a year-over-year basis to $272 million. That was supported by a 39% growth in the company's global monthly active users (MAUs) to 416 million.
As for the bottom line, Pinterest's adjusted loss deepened to just shy of $38.4 million ($0.07 per share), from the year-ago shortfall of $24.5 million.
Image source: Pinterest.
However, analysts tracking the stock were, on average, anticipating only a top line of just over $251 million, and a significantly worse adjusted per-share net loss of $0.13.
Investors stuck a gold pin in Pinterest's shares on Friday. The stock closed a whopping 36% higher, making it one of the best-performing titles on the market, particularly among consumer goods companies. That rise also contrasted sharply with the declines of the top equity indexes on the day.
Pinterest management said that the current trend of people staying effectively quarantined at home in the wake of the coronavirus outbreak benefits the company.
"In these tough times, we're seeing more and more people rely on Pinterest to cook at home, plan kids' activities, and set up a home office," CEO Ben Silbermann said. "Businesses are helping them turn their ideas into reality as people are increasingly discovering and buying products on Pinterest."
