Pinterest forecasts downbeat revenue as it battles for digital ad dollars; shares plunge

Pinterest forecast first-quarter revenue below Wall Street estimates on Thursday, as it battles sharper cutbacks in ad spending by tariff-hit retailers and mounting pressure from deep-pocketed rivals, knocking its shares down more than 18% in extended trading.

Last month, the image-sharing platform had cut about 15% of its workforce to shift resources towards AI, a ‌move investors viewed as ⁠defensive ⁠rather than bold.