Stock Alert: Pinterest Stock Climbs Following Earnings Results

(RTTNews) - Shares of Pinterest Inc. (PINS), a social media web and mobile application company, are gaining more than 11 percent in the morning trade on Friday, at $25.57. The stock has been trading in a range of $17.39 to $36.83 in the past 52 weeks.

Thursday after the bell, the company reported fourth-quarter revenue that surged 46 percent to $399.90 million from $273.18 million in the prior-year quarter. The company's Global Monthly Active Users or MAUs grew 26 percent year over year to 335 million.

Pinterest reported a net loss of $35.72 million or $0.06 per share, compared to net income of $47.02 million in the year-ago period. However, on adjusted basis, it reported earnings of $0.12 per share.

In mid-January, the company's shares gained significantly after new data by eMarketer showed that Pinterest has become the third-largest social media platform in the U.S., beating Snapchat. The market research firm also sees the trend continuing through 2022.