Pinterest Surges After Quarterly Revenue, Outlook Top Estimates

Shares of Pinterest Inc. jumped after the company posted strong holiday-quarter revenue and gave an upbeat forecast for sales in the current period, a sign that its advertising business continues to grow amid formidable competition from other social networks.

Revenue for the current period will be $837 million to $852 million, the company said in a statement Thursday, topping the average analyst estimate of $835 million. Profit, excluding some items, will be $155 million to $170 million, also ahead of Wall Street projections. The company, whose app lets people search for images and videos and save them to virtual pinboards, also exceeded analysts’ estimates for fourth-quarter sales and user growth.