Netease technology news November 1 news, local time later Thursday social media pinterest released the third quarter of fiscal 2019 results. According to the financial report, pinterests revenue in the current quarter increased by 47% to $279.7 million, compared with $190.2 million in the same period last year; the net loss in the current quarter increased by 561% to $124.7 million, compared with $18.9 million in the same period last year; according to non-U.S. general accounting standards, the adjusted net profit was $5.96 million, compared with $14.9 million in the same period last year.
Although pinterests revenue increased 47% to $279.7 million in the quarter, it is still lower than analysts forecast of $280.6 million. According to research firm FactSet, pinterests global average revenue per user in the third quarter was $0.90, slightly lower than analysts expectations of $0.91. The companys net loss increased to US $124.7 million from US $18.9 million in the same period of last year, and the total cost and expenditure almost doubled to US $413.4 million.
Pinterests share price fell 19% in after hours trading as quarterly revenue, average revenue per user and revised full year revenue outlook were lower than Wall Streets expectations.
Todd morgenfeld, pinterests chief financial officer, said in a conference call with analysts that pinterest has been investing in areas such as Advertiser diversification, which will bear fruit in the next few quarters and years. we are still in the early stage of development and our business will expand in a period of time.
Pinterest said the number of active users rose 28% to 322 million a month. Analysts had expected about 307 million users. (Chen Chen)
Source: Wang Fengzhi, editor in charge of Netease Technology Report