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AI & Enterprise

Pinterest shares plunge 22 percent after weak fourth-quarter results

Pinterest shares slid 22 percent after weak fourth-quarter results and a tariff-related shock, CNBC reported on Feb. 13. Fourth-quarter revenue was $1.32 billion, below analyst estimates, and net profit fell 85 percent to $277 million. Adjusted EBITDA also missed forecasts. Pinterest projected first-quarter revenue of $951 million to $971 million, below market expectations. The company plans to cut 15 percent of staff to boost AI investment.

AI & Enterprise

Pinterest cuts 15 percent of workforce to expand AI investment

Image-based social media company Pinterest will cut about 700 employees, or 15 percent of its workforce, and reduce office space, TechCrunch reported on Jan. 27. The move is aimed at accelerating AI-driven product development and cutting costs, the report said. Pinterest has introduced an AI shopping guide, Pinterest Assistant, and AI personalized boards. The company plans to expand AI-focused teams and redeploy staff toward AI development and execution.