Saturday , May 25 2019
Home / zimbabwe / We are in the growth phase

We are in the growth phase



Chief Executive Officer Ben Ben Silberman told CNBC's DPA that the company's management will continue to be transparent and will focus on the company's long-term trajectory – despite a decline after the company's first quarterly report as a public company.

Silberman sat down with Mad Money's host one day after delivering Pinterest's first quarterly results to shareholders since it was published last month. Stocks declined by nearly 14 percent during the session after the company reported a larger share loss than expected from Wall Street.

"We are not trying to define artificially low expectations and overcome them," he said. "We are trying to be transparent and I think the consistent thing you will hear from me … is that we want to focus on the long term."

Pinterest reported a loss of 32 cents, compared with 11 cents a share in the Refinitiv consensus. The social media platform, however, surpasses revenue forecasts of $ 1.3 million. Revenue rose 54% over the year, says Silberman.

Monthly active users also grew by 22% compared to the same period of the previous year. Silbermann said consumers are coming to the app for ideas for meal planning, wardrobe and home decor, among other things.

"We are definitely in the growth phase of our business, we have tried to be very transparent and clear," he said.

Pinterest works with retailers and consumer packaging companies and works to expand small and medium business and internationally, Silberman said.

"We want to build the best place for inspiration," he said. "We want to build personalization, the best visual detection tools, and then we want to make sure that if you see something you like, we can actually help you make it a reality."

Pinterest connects its 291 million global users directly with the business, Silberman said. Two of three users come outside the United States, he added. The technology company builds advertising tools that can present people's products at first glance and deliver business benchmarks, he said.

Pinterest expanded its advertising markets from seven to 13 in the quarter, he added.

"This alignment is really important as we build advertising solutions," Silberman said. "For example, if you find new clothes to wear or if you are refurbishing your house, ads can actually be really useful to turn this inspiration into something in your real life."

Pinterest estimates income between $ 1.06 billion and $ 1.08 billion in the entire 2019, which will mark its first $ 1 billion a year. Analysts forecast $ 1.07 billion.

WATCH: Cramer interviews Pinterest CEO Ben Silbermann following the first public quarterly report of the company

Questions about Cramer?
Call Cramer: 1-800-743-CNBC

Want to dive deep into Kramer's world? Hit him!
Jim Cramer Twitter – Facebook – Instagram

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com


Source link