Pinterest pops as Q1 results beats expectations

•  Pinterest (PINS.US) stock trades 8.0% higher after the image sharing company posted upbeat quarterly results. Pinterest reported adjusted earnings of 10 cents per share on revenue of $575 million, which beat analysts’ estimates of 4 cents per share earnings and revenues of $573 million.
• “Despite a challenging macroeconomic and geopolitical environment, we grew revenue 18% year over year,” said Chief Executive Ben Silbermann. Upward movement was driven by strength in retail advertising and international businesses. 
• Overall monthly active users (MAUs) dropped 9% to 433 million, however the number of mobile app MAUs increased, which is important as this group brings most profits.
• Pinterest executives expect Q2 revenue to increase 11% year-over-year, which translates to $680 million in sales, below average analysts’ expectations of $693 million as rising competition and Ukraine conflict weighs on the outlook.

Pinterest (PINS.US) stock plunged nearly 80% from its February 2021 high. However during today's session we can observe increased buyers activity. Stock launched the session with a bullish price gap and is currently approaching the major resistance zone around $20.70. Source: xStation5