Pinterest is trading 8.6% down at $23.39 after its August 4 earnings call highlighted slowing revenue growth guidance and intensifying competition from Meta and Google.
- Management projected Q3 revenue between $1.19B and $1.21B, signaling a growth slowdown that overshadowed strong Q2 results and record user expansion.
- Comments regarding increased competitive pressure from major digital advertising rivals have weighed on sentiment, driving the overnight and pre-market selloff.