A display for image sharing and social media service Pinterest is seen at the Collision conference in Toronto, Ontario, Canada June 23, 2022.
Chris Helgren | Reuters
Pinterest shares dropped in extended trading on Thursday after the company issued a weaker-than-expected forecast and reported disappointing revenue. The stock pared some of its losses after Pinterest revealed a new Google partnership.
Revenue: $981 million vs. $991 million expected, according to LSEG, formerly known as Refinitiv.
Earnings: 53 cents per share, adjusted, vs. 51 cents per share expected, according to LSEG.
Revenue rose 12% from $877.2 million a year earlier, while net income was $201 million, or 29 cents a share, up from $17.49 million, or 3 cents a share, the previous year.
Monthly active users in the fourth quarter rose 11% to 498 million, topping analyst estimates of 487 million. The company said its global average revenue per user was $2, lower than analyst estimates of $2.05.
Pinterest said first-quarter revenue will be between $690 million and $705 million, which equates to year-over-year growth of 15% to 17%. The middle of that range, $697.5 million, is below the average analyst estimate of $703 million.
The stock initially sank as much as 28% to an after-hours low of $29.40. After Pinterest CEO Bill Ready announced a “third-party app integration with Google” during a call with analysts, the company’s shares rebounded to $37.82, equating to a nearly 10% decline.
The Google integration is similar to Pinterest’s partnership with Amazon focusing on third-party ads, Ready said. Pinterest has been pitching its Amazon partnership as key to lifting the company’s overall sales and making it easier for users to buy goods that they see on the app.
Ready, who was president of Google’s commerce and payments business before joining Pinterest in 2022, said the company is “quite excited” about the potential of the new partnership to help it better “monetize markets” outside of the U.S.
“We see Pinterest as significantly under monetized across the board, but the most under monetized internationally,” Ready said, adding that 80% of its users but only 20% of its sales are outside the U.S.
Ready said the Google integration “went live a couple of weeks ago” and that it’s helped lift “third-party ad demand.” He said it “was not a significant revenue contributor” for Pinterest’s fourth quarter, but could help in the first-quarter and “going forward.”
Uneven market
The company’s report comes as the broader digital advertising market is showing recovery, with Meta, Alphabet and Amazon all picking up steam and growing their ad business by double digits in the fourth quarter. The data suggests that businesses are boosting spending on online promotions after cutting back in 2022 and part of 2023 over concerns about the Ukraine-Russian war and high interest rates.
But not all online ad companies are seeing the benefits. Snap shares cratered 35% on Wednesday after the company reported fourth-quarter sales growth of 5%, trailing expectations, and the company also issued weak guidance.
Ready said the digital ad market is improving from last year, and that retail was the company’s “fastest growing segment.”
“We’re seeing across the entire ad industry [that] performance matters more than ever, and we’re winning on that front,” Ready said. “We’re driving more performance to advertisers than ever before.”
Although Pinterest noted last quarter that the Middle East crisis caused some advertisers to halt their spending, company executives told analysts that the Israel-Hamas war ultimately had a temporary impact.
Prior to Thursday’s report, Pinterest shares were up 9.5% this year after surging 53% in 2023.
Costs dropped about 10% from a year ago to $785 million, largely due to a decline in sales and marketing expenses. A year ago Pinterest slashed about 5% of its workforce, part of an industrywide downsizing.
Elon Musk looks on as U.S. President Donald Trump meets South African President Cyril Ramaphosa in the Oval Office of the White House in Washington, D.C., U.S., May 21, 2025.
Kevin Lamarque | Reuters
The Elon Musk-owned social media platform X experienced a brief outage on Saturday morning, with tens of thousands of users reportedly unable to use the site.
About 25,000 users reported issues with the platform, according to the analytics platform Downdetector, which gathers data from users to monitor issues with various platforms.
Roughly 21,000 users reported issues just after 8:30 a.m. ET, per the analytics platform.
The issues appeared to be largely resolved by around 9:55 a.m., when about 2,000 users were reporting issues with the platform.
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X did not immediately respond to CNBC’s request for comment. Additional information on the outage was not available.
Musk, the billionaire owner of SpaceX and Tesla, acquired X, formerly known as Twitter in 2022.
The site has had a number of widespread outages since the acquisition.
Artificial intelligence robot looking at futuristic digital data display.
Yuichiro Chino | Moment | Getty Images
Businesses are turning to artificial intelligence tools to help them navigate real-world turbulence in global trade.
Several tech firms told CNBC say they’re deploying the nascent technology to visualize businesses’ global supply chains — from the materials that are used to form products, to where those goods are being shipped from — and understand how they’re affected by U.S. President Donald Trump’s reciprocal tariffs.
Last week, Salesforce said it had developed a new import specialist AI agent that can “instantly process changes for all 20,000 product categories in the U.S. customs system and then take action on them” as needed, to help navigate changes to tariff systems.
Engineers at the U.S. software giant used the Harmonized Tariff Schedule, a 4,400-page document of tariffs on goods imported to the U.S., to inform answers generated by the agent.
“The sheer pace and complexity of global tariff changes make it nearly impossible for most businesses to keep up manually,” Eric Loeb, executive vice president of government affairs at Salesforce, told CNBC. “In the past, companies might have relied on small teams of in-house experts to keep pace.”
Firms say that AI systems are enabling them to take decisions on adjustments to their global supply chains much faster.
Andrew Bell, chief product officer of supply chain management software firm Kinaxis, said that manufacturers and distributors looking to inform their response to tariffs are using his firm’s machine learning technology to assess their products and the materials that go into them, as well as external signals like news articles and macroeconomic data.
“With that information, we can start doing some of those simulations of, here is a particular part that is in your build material that has a significant tariff. If you switched to using this other part instead, what would the impact be overall?” Bell told CNBC.
‘AI’s moment to shine’
Trump’s tariffs list — which covers dozens of countries — has forced companies to rethink their supply chains and pricing, with the likes of Walmart and Nikealready raising prices on some products. The U.S. imported about $3.3 trillion of goods in 2024, according to census data.
Uncertainty from the U.S. tariff measures “actually probably presents AI’s moment to shine,” Zack Kass, a futurist and former head of OpenAI’s go-to-market strategy, told CNBC’s Silvia Amaro at the Ambrosetti Forum in Italy last month.
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“If you wonder how hard things could get without AI vis-a-vis automation, and what would happen in a world where you can’t just employ a bunch of people overnight, AI presents this alternative proposal,” he added.
Nagendra Bandaru, managing partner and global head of technology services at Indian IT giant Wipro, said clients are using the company’s agentic AI solutions “to pivot supplier strategies, adjust trade lanes, and manage duty exposure dynamically as policy landscapes evolve.”
Wipro says it uses a range of AI systems — both proprietary and supplied by third parties — from large language models to traditional machine learning and computer vision techniques to inspect physical assets in cross-border transit.
‘Not a silver bullet’
While it preferred to keep company names confidential, Wipro said that firms using its AI products to navigate Trump’s tariffs range from a Fortune 500 electronics manufacturer with factories in Asia to an automotive parts supplier exporting to Europe and North America.
“AI is a powerful enabler — but not a silver bullet,” Bandaru told CNBC. “It doesn’t replace trade policy strategy, it enhances it by transforming global trade from a reactive challenge into a proactive, data-driven advantage.”
AI was already a key investment priority for global firms prior to Trump’s sweeping tariff announcements on April. Nearly three-quarters of business leaders ranked AI and generative AI in their top three technologies for investment in 2025, according to a report by Capgemini published in January.
“There are a number of ways AI can assist companies dealing with the tariffs and resulting uncertainty. But any AI solution’s success will be predicated on the quality of the data it has access to,” Ajay Agarwal, partner at Bain Capital Ventures, told CNBC.
The venture capitalist said that one of his portfolio companies, FourKites, uses supply chain network data with AI to help firms understand the logistics impacts of adjusting suppliers due to tariffs.
“They are working with a number of Fortune 500 companies to leverage their agents for freight and ocean to provide this level of visibility and intelligence,” Agarwal said.
“Switching suppliers may reduce tariffs costs, but might increase lead times and transportation costs,” he added. “In addition, the volatility of the tariffs [has] severely impacted the rates and capacity available in both the ocean and the domestic freight networks.”
A Zoox autonomous robotaxi in San Francisco, California, US, on Wednesday, Dec. 4, 2024.
David Paul Morris | Bloomberg | Getty Images
Amazon‘s Zoox robotaxi unit issued a voluntary recall of its software for the second time in a month following a recent crash in San Francisco.
On May 8, an unoccupied Zoox robotaxi was turning at low speed when it was struck by an electric scooter rider after braking to yield at an intersection. The person on the scooter declined medical attention after sustaining minor injuries as a result of the collision, Zoox said.
“The Zoox vehicle was stopped at the time of contact,” the company said in a blog post. “The e-scooterist fell to the ground directly next to the vehicle. The robotaxi then began to move and stopped after completing the turn, but did not make further contact with the e-scooterist.”
Zoox said it submitted a voluntary software recall report to the National Highway Traffic Safety Administration on Thursday.
A Zoox spokesperson said the notice should be published on the NHTSA website early next week. The recall affected 270 vehicles, the spokesperson said.
The NHTSA said in a statement it had received the recall notice and that the agency “advises road users to be cautious in the vicinity of vehicles because drivers may incorrectly predict the travel path of a cyclist or scooter rider or come to an unexpected stop.”
If an autonomous vehicle continues to move after contact with any nearby vulnerable road user, it risks causing harm or further harm. In the AV industry, General Motors-backed Cruise exited the robotaxi business after a collision in which one of its vehicles injured a pedestrian who had been struck by a human-driven car and was then rolled over by the Cruise AV.
Zoox’s May incident comes roughly two weeks after the company announced a separate voluntary software recall following a recent Las Vegas crash. In that incident, an unoccupied Zoox robotaxi collided with a passenger vehicle, resulting in minor damage to both vehicles.
The company issued a software recall for 270 of its robotaxis in order to address a defect with its automated driving system that could cause it to inaccurately predict the movement of another car, increasing the “risk of a crash.”
Amazon acquired Zoox in 2020 for more than $1 billion, announcing at the time that the deal would help bring the self-driving technology company’s “vision for autonomous ride-hailing to reality.”
While Zoox is in a testing and development stage with its AVs on public roads in the U.S., Alphabet’s Waymo is already operating commercial, driverless ride-hailing services in Phoenix, San Francisco, Los Angeles and Austin, Texas, and is ramping up in Atlanta.
Teslais promising it will launch its long-delayed robotaxis in Austin next month, and, if all goes well, plans to expand after that to San Francisco, Los Angeles and San Antonio, Texas.