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Pinterest foresees lackluster ad growth amid economic uncertainties

Pinterest this week became the latest company to report lower growth or declines in revenue as economic uncertainties dampen demand for advertising. Meta Platforms, the owner of Facebook and Instagram, last week said revenue declined for the first time in its history, slumping 1% from the prior year to $28.8 billion in the second quarter. While Snap’s revenue climbed 13% to $1.11 billion for the comparable period, the result was less than what analysts had estimated for the owner of Snapchat. Twitter’s revenue slipped 1% to $1.18 billion with the company facing added uncertainties as billionaire Elon Musk halted his $44 billion takeover bid.

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