Shares of Pinterest Inc. PINS,
rose 25% in retail store sales on Friday after the photo platform easily exceeded expectations and gave a possible forecast for the third quarter. The company reported a net loss of $ 100.7 million, or 17 cents per share, compared to a loss of $ 1.16 billion, or $ 2.62 per share, in the previous quarter. On an adjusted basis, Pinterest lost 7 cents per share, compared to 6 cents per share in the previous period. The FactSet consensus was for an adjusted loss of 1
4% per share. Revenue rose to $ 272.49 million from $ 261.25 million, while analysts surveyed by FactSet expected $ 250 million. The company said it expects revenue for July to be around 50% by July 29 from a year earlier and that total revenue for the third quarter could be in the middle of 30%. “We are encouraged by the operation of our business in July, but there is great uncertainty given the ongoing COVID-19 pandemic and other factors,” Pinterest said in a statement. The company saw monthly active users in the June quarter rise to 416 million from 367 million in March. That number far exceeded the FactSet consensus, which sought 379 million active users per month for June. The company had 96 million active users per month in the United States and 321 million internationally. Average global consumer income fell to 70 cents from 88 cents for the quarter, but came ahead of forecasts for 67 cents. Pinterest shares have gained 22% in the last three months as the S&P 500 SPX,
has grown 11%.