US Stock Market Move | Q2 guidance exceeds expectations, Pinterest (PINS.US) surges over 7%

On Friday, Pinterest (PINS.US) rose more than 7% to $29.98. On the news front, the company's Q1 revenue increased 16% year-on-year to $855 million, exceeding market expectations of $847 million; adjusted earnings per share were $0.23, below market expectations of $0.26. Pinterest stated that second-quarter revenue is expected to reach $960 million to $980 million, higher than analysts' expectations of $963.7 million. CEO Bill Reddy pointed out in a conference call with analysts, "Our ability to personalize the user experience with artificial intelligence is our core competitive advantage." He also added, "This also makes us a valuable partner for advertisers." There are signs that the company's efforts to drive growth with artificial intelligence are starting to pay off, further alleviating concerns about a slowdown in advertising business growth in the market.