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Pinterest Sees Slower US User Growth as People Step Out Due to Ease in COVID-19 Restrictions

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Pinterest on Thursday said user growth in the United States was decelerating as people who used the platform for crafts and DIY projects during the height of the pandemic are stepping out more as curbs ease.

Shares of the digital pinboard site slumped nearly 20 percent in extended trade, with investors looking past Pinterest beating revenue estimates in the second quarter, as overall monthly active users (MAUs) fell short of expectations.

Social media companies worldwide saw digital advertisement spending and user growth surge as lockdowns accelerated the shift to e-commerce, but analysts are now concerned if those gains are here to stay.

“Pinterest’s use case was very compelling for people staying at home during the pandemic, and with the economy opening up, there is less focus on what Pinterest is best for,” Wedbush analyst Ygal Arounian said.

Overall MAUs, a widely watched metric, rose by only 9 percent to 454 million during the quarter. Analysts had estimated 487.1 million, according to Refinitiv IBES data. It had risen 30 percent in the prior quarter.

“For the past year, we’ve highlighted how people came to Pinterest for inspiration to reinvent their lives during such a difficult time. Now as the world opens up, we’re seeing the similar effect in the opposite direction,” Chief Executive Officer Ben Silbermann said during a call with analysts.

Pinterest’s MAUs in the United States, a major market for the company, was nearly 7 percent lower as of July 27. Its global MAUs grew by about 5 percent.

The shift in user engagement was more visible in Web than mobile app users, Pinterest said, adding that Web users tended to be, on average, less engaged and generated lower revenue.

Total revenue more than doubled to $613 million (roughly Rs. 4,560 crores) in the quarter versus analysts’ average estimates of $562.1 million (roughly Rs. 4,180 crores).

© Thomson Reuters 2021




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Usain Bolt Offers Sha’Carri Richardson Some Tough Advice Following Multiple Meet Losses

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Jamaican sprinter Usain Bolt is offering some words of wisdom to rising track star Sha’Carri Richardson following the young athlete’s fall from grace.

During a recent interview with the New York Post, the eight-time Olympic gold medalist was asked about the 21-year-old whose stellar performance in the U.S. Olympic Track and Field Trials at the new Hayward Field in Eugene, Oregon, last June was quickly overshadowed by a series of incidents, including a failed drug test, which subsequently got her disqualified from the Tokyo games entirely.  

Bolt told the media outlet that the best thing the Texas native can do now is stop talking and focus on what really matters. “I would tell Sha’Carri to train harder and to be focused and not say too much…,” he explained. A much speculated lack of media experience ultimately led to a dim in her once fiery fan support. Many have expressed belief that the young star’s trash talk proved damaging to her brand. 

“If you talk that big talk you have to back it up,” Bolt continued. The Jamaican-born sprinting phenom added, “So just train hard and focus on that and try to come back, do it and then talk about it.”

On Aug. 21, Richardson finished in last place in the women’s 100 meters as Jamaica’s Elaine Thompson-Herah dominated the race. Shortly afterward, an online feud seemingly unraveled between Richardson and Team Jamaican.

Bolt told the outlet he and his fellow Jamaican athletes were not impressed by Richardson’s attitude, considering a rivalry between American and Jamaican sprinters that picked up some steam dating back to at least 2012. 

“Jamaicans were vexed because she was talking a lot of s–t before the actual race, it is just one of those things,” he explained. “Jamaicans don’t like when people talk s–t about us because we are a very proud people. So if you talk about us we are gonna want you to back it up. It definitely gave those women the extra push [to win.]” 

Richardson has had a few incidents with members of the Caribbean nation. She was offered an all-expenses-paid trip to Jamaica by a Jamaican hotel owner, following her loss to Jamaica’s Shelly-Ann Fraser-Pryce, who finished second in the Prefontaine race. Many people online found the gesture to be disingenuous.

‘You Have to Back it Up’: Usain Bolt Offers Sha’Carri Richardson Some Tough Advice Following Multiple Meet Losses

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TSRBrainGamez: Can y’all guess whose fresh mani-pedi this is, Roomies? (SWIPE)

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TSRBrainGamez: Can y’all guess whose fresh mani-pedi this is, Roomies? 👀 (SWIPE)

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TSRBrainGamez: Can y’all guess whose fresh mani-pedi this is, Roomies? 👀 (SWIPE)

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SWIPE and PressPlay to see the two moments everyone is talking about that happened at the end of the DondaEvent – KimKardashian came out in a wedd

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SWIPE and PressPlay to see the two moments everyone is talking about that happened at the end of the DondaEvent – KimKardashian came out in a wedding dress and performed what seemed like a mock wedding or reconciliation with KanyeWest . Also, KanyeWest left the stage on fire. @applemusic

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