Pinterest flags slowing ad spend as quarterly loss widens, shares fall

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(Reuters) – Pinterest Inc on Tuesday said advertisers were slowing spending on the image sharing company due to the COVID-19 pandemic and reported a bigger-than-expected first-quarter loss as costs surged from new user additions, sending its shares down 18% in extended trade.

FILE PHOTO: The company logo for Pinterest, Inc. with trading information is displayed on a screen at the New York Stock Exchange (NYSE) in New York, U.S., April 18, 2019. REUTERS/Brendan McDermid

Advertisers have pulled or cut marketing budgets to rein in costs due to the coronavirus-related uncertainty, impacting…



Source reuters.com

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