Pinterest reported its second-quarter earnings on Thursday, August 7, and, in many ways, it was good news—though you wouldn’t know it from how much its shares have dropped. Here’s what to know:

What did Pinterest report?

The social media company’s global revenue rose to $998.2 million from $853.6 million year-over-year (YOY). The 17% jump beat Wall Street’s expectations of $975 million, according to consensus estimates cited by CNBC. Its net income also increased by 336% YOY, to $38.8 million from $8.9 million.

Moreover, Pinterest also projected a better-than-expected third quarter, with revenue between $1.03 billion and $1.05 billion.

Plus, it’s doing well when it comes to actual users, particularly younger ones. Pinterest reports an 11% increase YOY, coming in at 578 million global m

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