In the communications sector, when Snap (SNAP) posted earnings on April 29, shares slumped. Conversely, Pinterest (PINS) is today’s biggest moving stock.
In the first quarter, Pinterest posted revenue of $854.99 million, up by 15.5% Y/Y. The firm reported 570 million active users. In Q2, the company is expecting revenue of $960 million to $980 million, or 12% to 15% Y/Y growth. PINS stock will open up by around 15% this morning.
Pinterest posted GAAP net income of $9 million. However, the adjusted EBITDA was $172 million. The business generated $356 million in free cash flow.
After losing 9.58% on Thursday, Match Group (MTCH) might try to rebound to $30.00. A share buyback program should help the stock. The firm reported revenue falling by 3.3% Y/Y to $831.17 million. Payers fell to 14.2 million in Q1, or down by 5% Y/Y. The company will need to lower its stock-based compensation if it wants to cut costs to match the weaker online dating market.
Iron ore producer Cleveland-Cliffs (CLF) closed at $7.15, down by 15.78% on Thursday. The business lost $0.92 a share (non-GAAP). Revenue fell by 11.0% Y/Y to $4.63 billion.
Fortunately, the company did not buy U.S. Steel (X), which would have hurt its results and damaged its balance sheet.