A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) - Pinterest forecast first-quarter revenue largely below Wall Street estimates on Thursday, a sign that it faces tough competition from larger social media players even as the digital advertising market stabilizes.
However, shares of the San Francisco, California-based company, which were down more than 9%, pared losses in extended trading after CEO Bill Ready announced an ad integration deal with Google.
