77
Fashion Jobs
BEIERSDORF
Sales Representative North Greece (Based in Thessaloniki)
Permanent · ATHENS
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · THESSALONIKI
L'OREAL GROUP
Senior Product Manager Maybelline – Consumer Products Division
Permanent · NEA IONIA
CLINIQUE
Consumer Marketing Manager, Clinique
Permanent · ATHENS
LA MER
Consumer Marketing Executive, LA Mer
Permanent · ATHENS
TOM FORD
Consumer Marketing Manager Tom Ford
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · CHALANDRI
ESTÉE LAUDER COMPANIES
Fixed Assets & Decorations Supervisor
Permanent · ATHENS
SEPHORA
Accounting
Permanent · ATHENS
SEPHORA
Category Specialist
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Mare West) - Μερική Απασχόληση
Permanent ·
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · PIRAEUS
H&M
Hiring Day Chania - Sales Advisors
Permanent · CHANIA
MAD LORDS
Sales Assistant Scorpios Mykonos
Fixed-term · MYKONOS
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · MAROUSI
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Metro Mall) - Μερική Απασχόληση
Permanent · AGIOS DIMITRIOS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · KALAMATA
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · NEA IONIA
GUESS
Sales Advisor (Greece)
Permanent · ATHENS
BEIERSDORF
Junior Pos Materials & Execution Specialist (Temp Position)
Fixed-term · ATHENS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · KALLITHEA
By
Reuters
Published
May 6, 2020
Reading time
2 minutes
Download
Download the article
Print
Text size

Pinterest flags slowing ad spend as quarterly loss widens, shares fall

By
Reuters
Published
May 6, 2020

Pinterest Inc on Tuesday said advertisers were slowing spending on the image sharing company due to the COVID-19 pandemic and reported a bigger-than-expected first-quarter loss as costs surged from new user additions, sending its shares down 18% in extended trade.


Photo - - Shutterstock



Advertisers have pulled or cut marketing budgets to rein in costs due to the coronavirus-related uncertainty, impacting social media platforms including Pinterest, Facebook Inc and Twitter Inc, that rely on digital advertising sales.

Pinterest noted that it saw a sharp deceleration in sales in the middle of March as advertisers responded to changes in demand due to the virus outbreak.

“As off-line stores closed around the world, many advertisers slowed or paused their advertising spending on Pinterest,” Chief Executive Officer Ben Silbermann said on a conference call with analysts.

Pinterest also said revenue in April declined 8%, compared to a year earlier.

The company had withdrawn its full-year outlook last month, citing growing uncertainty due to the impact of the pandemic on the economic environment and its effect on advertiser demand.

“Our cost of revenue has generally grown with users rather than revenue, which in this environment puts some pressure on gross margins,” Pinterest said on Tuesday.

The company, which calls its users “Pinners”, said global monthly active users rose 26% to 367 million during the quarter and it saw record levels of engagement.

“The strong user growth in Q1 reinforces our view that Pinterest has a very bright long-term future. But investors are currently very focused on what the near-term future looks like,” Atlantic Equities analyst James Cordwell said.

Pinterest’s first-quarter revenue, however, jumped 35% to $272 million (218.6 million pounds), and beat estimates of $270.1 million, as coronavirus-led lockdowns forced people to stay indoors and seek engagement and entertainment online.

Use of social media apps has surged recently as the pandemic has forced people to stay at home, and made them increasingly reliant on these apps to stay connected.

Pinterest’s net loss widened to $141.2 million in the first quarter ended March 31 from $41.4 million, a year earlier.

Excluding items, the company reported a loss of 10 cents per share, bigger than analysts’ average estimate of 9 cents, according to IBES data from Refinitiv.

Total costs and expenses surged about 69% to about $418 million.

© Thomson Reuters 2024 All rights reserved.