Diamonds and Dogs
Pinterest (PINS) makes money. The image-discovery platform is jumping 30% following better than expected earnings as sales rose 58% to $442.62 million verse estimates of $386.29 million. Revenue growth was driven by a rebound in global advertising spending from last quarter's pandemic-driven downturn, plus an increase in the number of monthly active users on their site. The COVID-19 crisis has provided a tailwind to user growth since people are staying home more than usual.
Profit-taking in Spotify (SPOT). The audio streaming service company is down 8% following earnings. Revenue rose 14% to €1.98 billion, but the company reported a €101 million loss due to heavy spending on among other things, podcasts and signing big names like Joe Rogan and Michelle Obama to deals.With a $47 billion market cap, investors may want to see some profits soon.
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