Pinterest soars as revenue beat stands out in social media gloom

Pinterest app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) -Pinterest Inc beat estimates for quarterly revenue on Thursday, making it a rare bright spot in an otherwise downbeat social media sector and sending the image-sharing platform's shares 15% higher in after-hours trading.

A decline in advertising budgets because of decades-high inflation has roiled earnings of online players from Alphabet Inc to Meta Platforms Inc and Snap Inc.