Pinterest (PINS) stock fell late Thursday after the social media company reported mixed second-quarter results. The digital pinboard operator reported results following strong Q2 performances from Facebook parent Meta Platforms (META) and social media rival Reddit (RDDT).

San Francisco-based Pinterest earned an adjusted 33 cents per share for the June-ended quarter, up 37.5% compared to the same period a year earlier. That was short of the 35 cents per share that analysts polled by FactSet forecast. Sales increased 17% to $998 million, beating analyst estimates of $975 million.

For the current quarter, Pinterest guided for sales of $1.04 billion at the midpoint of its range. Analysts were previously projecting the company would tally $1.03 billion in sales for the September quarter, according to FactSet.

Total monthly active users for Pinterest's digital pinboard platform grew 11% to 578 million. That beat estimates of 574.5 million.

"I've never been more confident in Pinterest's ability to deliver for our users and advertisers," Pinterest Chief Executive Bill Ready said in a news release. "We've found our best product market fit ever by becoming a personalized shopping destination for users and an AI-powered performance platform for advertisers."

On the stock market today, Pinterest stock is down 11% at 34.95 in recent after-hours action.

Pinterest Stock Up 35% This Year

Prior to earnings, Pinterest gained a fraction in regular trading. Shares have gained 35% year to date.

Earlier this week, shares of Snapchat parent Snap (SNAP) took a big hit after its revenue growth came up short. Analysts compared Snap's growth to the strong performances from the much-larger Meta Platforms, as well as the rapid growth of Reddit's relatively new digital ad business. Each of the companies is competing for digital advertising spending.

Overall, Pinterest's share performance has been uneven this year. The stock jumped out to a big gain after Pinterest's fourth quarter results impressed investors in February. But shares then slumped in the spring, as investors debated the impact of tariffs on the digital advertising market.

Strong Q1 results in May helped restart momentum. Morgan Stanley analyst Brian Nowak upgraded Pinterest to an overweight rating in July. He said AI investments are boosting the company's advertising business.

Coming into the report, Pinterest stock had an IBD Composite Rating of 97 out a best-possible 99, according to IBD Stock Checkup. The score combines five separate proprietary ratings into one rating. The best growth stocks have a Composite Rating of 90 or better.

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