Pinterest Inc (NYSE:PINS) shares jumped by 13.3% to US$28.45 in afterhours trading after the social network reported third-quarter 2023 revenue that rose 11% year over year to $763 million along with adjusted earnings per share (EPS) of $0.28.
Analysts expected adjusted EPS of $0.20 on $743.3 million in revenue.
"We are driving strong revenue performance, robust global MAU (Monthly Active Users) growth, and substantial margin expansion," Pinterest CEO Bill Ready said in a statement. Read more
Blackberry (TSX:BB) announced its CEO and executive chair John Chen will be retiring from the company after a decade in the top job, effective November 4.
He will be succeeded by current board member Richard (Dick) Lynch who will serve as interim CEO while the company conducts a search for Chen's permanent replacement. Read more
Tesla Inc (NASDAQ:TSLA) shares continued to move lower after the closing bell after finishing the trading day at lows not seen since May of this year. After closing down 4.8%, the stock fell another 0.5% to US$196.33.
Weighing on the stock was Panasonic Corporation (NYSE:PC)'s slashing of its automotive battery production in Japan during the September quarter which it attributed to a decline in demand for high-end electric vehicles. Read more
Elsewhere, Apple Inc (NASDAQ:AAPL) is expected to unveil the newest iterations of its Mac desktop and laptop computers during an online event that kicks off at 8pm Eastern Time/5pm Pacific Time.
The iPhone maker’s shares traded hands at about US$170 ahead of the event. Read more
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on X, formerly known as Twitter, @emilyjjarvie