Pinterest Shares Tumble on Weak Holiday-Quarter Sales Forecast

Pinterest Inc. shares plunged after its revenue projections for the current quarter fell short of analysts’ estimates, a sign that the search platform’s advertising business may not be growing as quickly as expected despite the upcoming holiday shopping season.

Shares tumbled about 19% in premarket trading on Wednesday. If the losses hold, the stock will fall by the most since April 2023.

The San Francisco-based company expects revenue to be $1.31 billion to $1.34 billion for the fourth quarter, according to a statement published Tuesday. The midpoint of that range is below the average analyst estimate of $1.34 billion, according ...