Pinterest engagement, layoffs in focus ahead of earnings
Yahoo Finance Live looks ahead to what to expect from Pinterest's earnings report due out next week.
Video Transcript
SEANA SMITH: Well, earnings season keeps rolling on. Taking a look at some of the companies reporting next week, too many to name right there. So we've narrowed it down to some of the ones that are most interesting to us. For me, it's going to be Pinterest. You can see it out on Monday. I am going to be watching ad spending revenue. We know that's very important there when it comes to Pinterest. This stock was on a wild ride this week. Shares shot up following Meta's better than expected results on Wednesday night, but certainly, ad spending, we're expecting to see some weakness there, some pressure on ad pricing, similar to what we've seen from some of its peers.
We also know that cost cutting will be in focus here. The company cut about 5% of its workforce this week. So that is, of course, going to be a focus on that earnings call. And engagement, time spent, people simply aren't spending as much time as they were on Pinterest. TikTok a massive competitor to Pinterest, as well as many of the other social media stocks, as they do focus on their platforms, on engagement. People are spending less time on Pinterest, which could be a challenging time here for the company.
DAVE BRIGGS: Tell me why I should be on Pinterest. I kind of missed that wave.
SEANA SMITH: I like it for recipes. Actually, what we're showing right now, I think it's great for recipes. And also decor, if you're looking to get inspired, go to Pinterest. But I don't--
DAVE BRIGGS: You can see why I'm not on it. I don't cook, and I don't decorate.
JARED BLIKRE: Planning a wedding.
SEANA SMITH: Gosh, me, too. Maybe-- I don't really use it for that, but I feel like it could help you out, right?
JARED BLIKRE: Well, if you're moving, planning a wedding, you need to redecorate your apartment. I haven't used it per se, but I imagine that would be a use case.
DAVE BRIGGS: Yeah, my wife is not a big fan of my decorating skills, so zip it.
