异动解读 | Q3营收指引增速放缓,Pinterest盘前大跌8.84%

异动解读
Aug 05

Pinterest(PINS)今日盘前股价大跌8.84%,引发市场广泛关注。

消息面上,公司于盘后发布了第二季度财报,尽管第二季度营收和调整后每股收益均超出市场预期,但第三季度营收指引却令投资者失望。Pinterest预计第三季度营收将在11.9亿美元至12.1亿美元之间,同比增长13%至15%,这一增速明显低于第二季度18%的营收增长率,显示出增长放缓的迹象。

增长放缓的背后有多重因素。公司首席财务官在电话会议中指出,第二季度业绩受益于多项一次性因素,包括世界杯相关广告支出贡献近1个百分点的增长、亚马逊Prime Day从第三季度移至第二季度带来约0.5个百分点的提振,以及TVScientific全季度并表的影响。这些利好因素均不会在第三季度重现。此外,来自亚洲跨境零售商的广告需求因欧洲监管措施而面临压力,且这一影响正延续至第三季度。在数字广告市场,Pinterest还面临来自Meta、Reddit和谷歌等竞争对手日益激烈的挑战,谷歌近期推出的类Pinterest功能进一步加剧了竞争。成本方面,由于持续加大GPU容量投资,第二季度营收成本同比攀升25%,公司预计2026年下半年收入成本占比仍将面临温和逆风。多重因素叠加,导致市场对Pinterest未来增长前景产生担忧,从而引发盘前股价大幅下挫。

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