Pinterest falls 8% on international headwinds

Pinterest shares fell over 8% on 9 September, reaching their lowest intraday level since 21 May. The decline followed remarks by CEO Bill Ready at the Goldman Sachs Communacopia + Technology Conference.

Ready repeated points from the August second-quarter call regarding pressures outside the United States. He explained that operations face obstacles on two distinct fronts. New regulations in Europe have restricted cross-border sellers from Asia, while Pinterest is also reorganizing its international business and go-to-market strategy to match earlier changes made in the US market.

The earlier restructuring in the United States included upgrades to its AI-powered ad platform and a revamp of marketing efforts. Ready noted that adopting this playbook internationally will cause short-term pain, though he expects medium- to long-term gains. He added that substantial work remains for international monetization.