Stock Alert: Pinterest Touches New High; Earnings Beat View

Shares of Pinterest, Inc. (PINS) are surging more than 35% Thursday morning after reporting better-than-expected third-quarter results.

The stock touched a new high of $68.93 this morning.

Adjusted earnings for the third quarter were $0.13 per share compared with $0.01 per share in the same quarter a year ago. On average 20 analysts polled by Thomson Reuters were expecting earnings of $0.03 per share.

Revenue for the quarter grew 58% year over year to $442.62 million.

The company said its global Monthly Active Users (MAUs) grew 37% year over year to 442 million.

For the fourth quarter, Pinterest sees a revenue growth of 60% year over year. The consensus estimates is for 35% growth.

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