Pinterest saw shares plunge in after-hours trading after revenue fell shy of Wall Street estimates and gave a weak outlook for the current quarter.

Wall Street

Pinterest plummets after revenue miss

Welcome. The closing bell and cheddar news. Everyone is taking a live. Look at Pinterest shares in the after-hours tanking, nearly double digits as. So, let's get to our own cheddar news is Michelle Casteel you with the results. Michelle, you're a one-point. Kristin, I saw its shares down 12% on Pinterest, and what we're seeing is while they did beat on earnings per share. Coming in at $0.29 vs $0.27 estimate, there was a huge mess on Revenue. They actually came in at 877.2 million, the street was expecting 886.3 million. This is a tale that has been told across a lot of digital advertising, Reliant technology, stocks across-the-board even companies like meta which did beat on earnings estimates. So I wouldn't beat on Revenue. Estimates were still down, overall, in terms of Revenue, 4% year-over-year, I think alphabet was also down about 3.6% to what we are seeing is really a Slowdown in the digital advertising market. And as I said, Earlier smaller companies like Pinterest, like Snap are the ones. They're seeing the brunt of this cut in marketing budgets now, going forward. They also issued pretty weak guidance. They did say that the first quarter of 2023 were only expecting single-digit, Revenue growth, still again, not great news. For the next, the first quarter of this year, as you mentioned earlier that there was a round of layoffs at the restructuring as well. And that's also another thing we're seeing across affect industry. So pretty rough quarter for them but also is helping told across a lot of different companies. Right. How does Pinterest from some of the other social media companies out there? I mean, we know it's not as big as the other ones, but is there enough of a moat around this company, at to survive, some of these challenging time? You think that I'm always been bullish on Pinterest on in one? Is that they tend to have what advertisers call a brand safe environment where you're seeing if you won't see as many of those toxic comments, a lot of those questionable. Door. I am stories or questionable fact, check things that need to be fact-checked. In fact, Pinterest in one of the first platforms tube and things like anti-vaccination efforts, or because it's not really a place where people go to for that. In that case, it makes breads a little bit more safe, a little bit more willing to invest money especially when it comes to a product that they don't want to put a controversial concept. Did the second thing about Pinterest that makes them really good as they have a great search algorithm Rhythm and they're really based on shopping. So, if you're looking for a company that can prove return on investment in terms of getting people to spend things in, always been great on that visual search. They have been expanding recently and I know they added us some Partnerships with some music groups, including warnermedia. This past quarter, we're also seeing that there's investment from other companies like Elliott management. We should take a big share in the company last quarter but then again, they are still facing that same overall problem that everyone's face, and that just people aren't investing us. Marketing at this time. And they're going to be hit hard, I was just taking a look at their average revenue per user numbers. It's comes in at a dollar, a dollar ninety and change. That's a lot lower than what you're seeing and companies like meta. All right, Michelle Casteel, you do with the breakdown for Pinterest and stop sliding in the after-hours dumouchelles. Thank you.

Volodymyr Zelenskyy has made a rare and defiant trip near the front line to personally thank soldiers that have been defending the devastated Eastern city of Bakhmut. It came as Russian missiles hit a residential building in Zaporizhzhia, killing at least one person and injuring more than 30 others.

Bakhmut

Ukraine Invasion

Zelenskyy's morale-boosting visit to Bakhmut

Tiktok Chief Executive Officer Shou Chew says the social media platform has not spied on Americans. He testifies before the US House Energy and Commerce Committee in Washington. 

Capitol Hill

Defiant TikTok CEO faces Congress grilling

French workers angry with a rise in the pension age blocked access to a terminal at Paris' Roissy-Charles De Gaulle airport on Thursday as part of a nationwide day of protests, forcing some travellers to get there on foot. Train services were disrupted and some schools shut while garbage piled up on the streets.

Paris Charles de Gaulle Airport

Protesters block access to Paris Airport

A group of TikTok content creators descended on the US Capitol Wednesday to protest against calls for a ban on the popular Chinese-owned video-sharing app, amid fears that it presents a national security threat.

Washington

TikTok creators protest looming U.S ban

New research published in the journal Current Biology uses DNA sequencing to uncover that the great composer did not die from lead poisoning after all...

Bonn

Scientists uncover cause of Beethoven's death

Australian Prime Minister Anthony Albanese fought back tears on Thursday as he revealed the question the government wants to ask in a referendum on whether to recognise Aboriginal and Torres Strait Islanders in the country's constitution. 

Canberra

Australia set to vote on indigenous referendum

Pakistan's former Prime Minister Imran Khan says it is only a matter of time before he is imprisoned or killed. He made the remarks in an online post, in which he spoke out against the government and the military. The Lahore district administration has granted permission to Pakistan Tehreek-e-Insaf (PTI) to hold a rally at Minar Pakistan between the night of the 25th and 26th of March.

Lahore

Imran Khan warns 'matter of time' before his murder

The United States Federal Reserve has announced its latest interest rate hike, a move aimed at lowering inflation by making borrowing more expensive for consumers. The increase of a quarter of a percentage point on Wednesday sets the US central bank’s benchmark overnight interest rate in the 4.75 to 5 percent range, its highest level in 15 years.

U.S interest rates hiked again

Former U.K. prime minister Boris Johnson clashed with MPs at a hearing over parties held at Downing Street while the rest of the country was in lockdown. The scandal, which drove Johnson out of the prime minister’s office, could now get him booted from Parliament.

London

Boris Johnson grilled over Partygate

Seventeen Ukrainian children who were sent to camps in Crimea by Russian officials were reunited with their families in Kyiv today. They are among thousands who were transferred to Russia or the regions it occupies. It follows charges laid against Vladimir Putin over the alleged kidnappings levelled by the International Criminal Court.

Kyiv

Children 'taken' by Russia returned

The House of Commons voted 515-29 to back a key portion of The Windsor Framework, designed to resolve a trade dispute between the UK and Northern Ireland.

Westminster

Sunak's Brexit deal clears Commons vote

Two Defence Force personnel have been injured after an Australian Army helicopter crashed into the water during routine counterterrorism training on New South Wales south coast. There were 10 personnel on board the aircraft when the incident occurred and all have been recovered from the water. Chief of Army Lieutenant General Simon Stuart says the incident had the potential to end in "tragedy".

Jervis Bay

Two army personnel injured in helicopter crash

Emmanuel Macron has defended his Government's decision to force the controversial pension reforms through Parliament during a rare national 
television address, designed to quell the violent protests that have gripped the country. The French President condemning the violence, saying he had 'no regrets' despite facing multiple no-confidence motions.

Paris

'No regrets': Macron defiance amid protests

Former British Prime Minister Boris Johnson insists he did not lie to lawmakers, defending himself at a parliamentary hearing as part of a probe into whether he misled lawmakers over rule-breaking Covid-19 lockdown parties. Johnson faced a grilling before a cross-party committee that has the powers to suspend the MP and force a by-election in his London seat.

'Hand on heart': Boris denies lying

Stocks on Wall Street have climbed after the rescue of Credit Suisse calmed nerves about a larger banking crisis. The United States treasury secretary, Janet Yellen, says the local financial sector is stabilising after it was put to the test by the collapse of two banks this month. But the world's largest economy is still facing some strong headwinds.

Banking Crisis

U.S bank failures 'very different' from 2008

Xi Jinping and Vladimir Putin stress that'“responsible dialogue' is the best way to resolve the Ukraine crisis as Moscow reaffirms its commitment to peace negotiations. The Chinese leader says Beijing has an “impartial position” on the conflict in Ukraine and supports peace as Putin says China’s peace proposals could be used as the basis for talks.

Moscow

Xi's trip to Russia: A boost for Putin

A Virginia grand jury formally indicted 10 people, including police officers and hospital workers, over the death of Irvo Otieno - a Black man who was restrained before he died in a mental health facility. His family demanded justice and mental health reform. 

Richmond

Video shows police 'piling on' man before his death

Lawyers for Fox Corp faced a sceptical judge on Tuesday (March 21) as they sought to block a $1.6 billion defamation lawsuit by Dominion Voting Systems from going to trial, while the voting-technology company accused Fox News of knowingly airing vote-rigging claims that the network knew were false.

Delaware

Fox News fights to avoid trial by jury

Russian President Vladimir Putin said Tuesday a Chinese peace plan could provide a basis for a settlement of the fighting in Ukraine when the West is ready for it. Speaking after talks with Chinese leader Xi Jinping, Putin charged that Ukraine’s Western allies so far have shown no interest in that.

Russian Sanctions

Putin: Ukraine 'doesn't want' peace

Former British Prime Minister Boris Johnson is battling for his political future as he tries to convince a cross-party committee that he 'unintentionally' misled Parliament over the Partygate scandal. If the committee decides he 'recklessly' misled MPs, he faces a suspension from Parliament that could force a by-election in his West London seat.

Boris Johnson in trouble again

A magnitude 6.5 earthquake was felt across huge swathes of Afghanistan, Pakistan, and parts of India on Tuesday night, forcing people to spend the night outside.

Islamabad

Deadly earthquake rocks Pakistan, Afghanistan

Japanese Prime Minister Fumio Kishida has offered strong support to Ukraine during a visit to Kyiv, inviting President Volodymyr Zelenskiy to the G-7 Summit in May.

In Kyiv, Japan's Kishida backs Ukraine

Russian President Vladimir Putin and Chinese leader Xi Jinping discussed Beijing's proposal for a ceasefire in Ukraine in talks in Moscow, while displaying a warm friendship forged on a mutual rivalry with the West. China has refrained from condemning Russia or referring to Moscow's intervention in its neighbor as an "invasion". It has also criticized Western sanctions on Russia.

Xi urges Ukraine ceasefire during Putin talks

The NATO Secretary General said China needs to "understand Ukraine's perspective" and engage with President Volodymyr Zelenskyy.

China 'must condemn' Russian aggression; NATO

Russian authorities on Tuesday detained human rights activists including members of the Nobel-winning Memorial organisation after raids on homes and offices, sparking an outcry among the international human rights community. 

Tsentralnyy administrativnyy okrug

Russian Police raid homes of Nobel Prize winners

Protesters are trying to pressure lawmakers to bring down the government and doom the unpopular retirement age increase President Macronis trying to impose without a vote in the National Assembly.

Protestors rally as Macron survives no-confidence vote

U.S. President Joe Biden signed a bill that requires declassification of information related to the origins of the coronavirus that causes COVID-19. Whether the pandemic was the result of a lab leak from China's Wuhan Institute of Virology, or jumped from animals to humans at a Wuhan market remains a hotly contested debate. China has said there is no credibility behind the lab leak theory.

Wuhan

Biden orders release of COVID intelligence

Russia has opened its own criminal investigation into the International Criminal Court's (ICC) prosecutor and judges. Russia’s Investigative Committee says the ICC has knowingly accused an innocent person of a crime, in another show of defiance against the court.

Russia retaliates after Putin arrest warrant

A damning report by an independent member of Britain's House of Lords has found that London's Metropolitan Police force is institutionally racist, sexist, and homophobic. In her report, Louise Casey says officers are not properly vetted and calls for wide-ranging reform.

London Police 'racist, sexist and homophobic'

Anticipation is building over reports that former U.S. President Donald Trump could be indicted as early as today. Barriers have been erected around a Manhattan courthouse in anticipation of protests after Trump called on his supporters to protest any moves to arrest him. 