Pinterest shares soar on third-quarter revenue beat as it bucks online ads trend
Pedestrians pass in front of Pinterest signage displayed outside of the New York Stock Exchange.
Michael Nagle | Bloomberg | Getty Images
Pinterest shares soared over 12% in extended trading after the company reported third-quarter earnings.
Here’s how the company did.
- Earnings: 11 cents per share (adjusted) vs. 6 cents per share (adjusted) expected, according to Refinitiv.
- Revenue: $684.6 million vs. $666.7 million expected, according to Refinitiv.
Pinterest said its revenue grew 8% year-over-year on a loss of $65 million.
The company’s monthly average users remained relatively flat at 445 million.
“Our current expectation is that Q4 2022 revenue will grow mid-single digits on a year-over-year percentage basis, which takes into account slightly greater foreign exchange headwinds than in Q3 2022,” Pinterest said in a statement. “We expect our Q4 2022 non-GAAP operating expenses to grow low double digits percent quarter-over-quarter.
The company added that operating expenses should grow around 35% year-over-year for 2022.
Pinterest’s latest earnings report bucked the trend of online advertising companies posting results that missed analysts’ expectations. Concerns about a possible recession have caused businesses to reduce spending on online advertising, affecting a number of companies including tech giants like Meta and Alphabet.
Although Pinterest’s revenue growth rate of 8% during the third quarter was considerably lower than the 43% growth rate it reported the prior year in the same quarter, investors were looking for any positive signs after multiple rivals missed on their respective earnings reports.
Shares in Snap, for instance, plummeted last week over 30% the day after the company reported a revenue miss of $1.13 billion.
Earlier this week, Alphabet followed suit when it reported third-quarter revenue growth that declined from 41% a year ago to 6%, and said that advertising sales in its YouTube division fell 2% year over year to $7.07 billion, missing analysts’ estimates.
The next day, Meta announced its second-straight quarterly revenue decline and gave weak fourth-quarter guidance, prepping investors for another sales decline. Shares in the Facebook parent sank 24% the day after it reported its quarterly results.
Watch: Weakening ad revenue could compromise Meta’s free cash flow.
Direxion signage at the New York Stock Exchange (NYSE) in New York, US, on Monday, Dec. 22, 2025. The holiday-shortened week started with gains in stocks amid a broad advance that saw a continuation of the bullish momentum on Wall Street.
Michael Nagle | Bloomberg | Getty Images
Motive, a company with software for managing corporate trucks and drivers, on Tuesday filed for an initial public offering on the New York Stock Exchange under the symbol “MTVE.”
The paperwork puts Motive among a fast-growing group of tech companies looking to go public in 2026. Anthropic, OpenAI and SpaceX have all reportedly considered making their shares widely available for trading next year.
Motive is smaller, reporting a $62.7 million net loss on $115.8 million in revenue in the third quarter. The loss widened from $41.3 million in the same quarter of 2024, while revenue grew about 23% year over year. The company had almost 100,000 clients at the end of September.
Ryan Johns, Obaid Khan and Shoaib Makani started Motive in 2013, originally under the name Keep Truckin. Makani, the CEO, is Khan’s brother-in-law.
Investors include Alphabet’s GV, Base10 Partners, Greenoaks, Index Ventures, Kleiner Perkins and Scale Venture Partners.
Motive’s AI Dashcam device for detecting unsafe driving “has prevented 170,000 collisions and saved 1,500 lives on our roads,” Makani wrote in a letter to investors. Most revenue comes from subscriptions, although Motive does sell replacement hardware and professional services.
The San Francisco company changed its name to Motive in 2022, and as of Sept. 30, it employed 4,508 people. Motive employs 400 full-time data annotators who apply labels that are meant to enhance artificial intelligence models.
Motive has ongoing patent-infringement litigation with competitor Samsara, which went public in 2021 and today has a $22 billion market capitalization.
WATCH: AI IPO boom next year? The changing 2026 IPO landscape
Technology
Why an analyst sees Meta shares getting back to record highs – plus, another tariff reprieve
A silicon wafer with chips etched into is seen as U.S. Vice President Kamala Harris tours a site where Applied Materials plans to build a research facility, in Sunnyvale, California, U.S., May 22, 2023.
Pool | Reuters
The U.S. will increase tariffs on Chinese semiconductor imports in June 2027, at a rate to be determined at least a month in advance, the Trump administration said in a Federal Register filing on Tuesday.
But in the meantime, the initial tariff rate on semiconductor imports from China will be zero for 18 months, according to the filing from the Office of the U.S. Trade Representative.
As part of an investigation that kicked off a year ago, the agency found that China is engaging in unfair trade practices in the industry.
“For decades, China has targeted the semiconductor industry for dominance and has employed increasingly aggressive and sweeping non-market policies and practices in pursuing dominance of the sector,” the office said in the filing.
The decision to delay new tariffs for at least 18 months signals that the Trump administration is seeking to cool any trade hostilities between the U.S. and China.
Additional tariffs could also become a bargaining chip if future talks break down.
U.S. President Donald Trump and Chinese President Xi Jinping reached a truce in the so-called trade war in October, as part of a deal that included the U.S. slashing some tariffs and China allowing exports of rare earth metals.
The USTR’s Tuesday filing states that tariffs will increase on June 23, 2027.
The notice is the next step in a process focusing on older chips that started during the Biden administration under Section 301 of the Trade Act.
The new 2027 date gives clarity to American firms that have said they are closely watching how U.S. tariffs could affect their businesses or supply chains.
The tariffs are separate from other duties threatened by the Trump administration on Chinese chip imports under Section 232 of the law.
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