Pinterest Jumps on Outlook Signaling Strong Advertising Growth

Pinterest Inc. shares jumped almost 20% in extended trading after the company reported first-quarter sales that topped analyst estimates, and gave an outlook for revenue in the current period that was higher than anticipated.

Second-quarter revenue will be $1.13 billion to $1.15 billion, the company said Monday in a statement. Analysts, on average, estimated $1.12 billion, according to data compiled by Bloomberg. Sales in the first quarter gained 18% to $1.01 billion, compared with the average projection of about $966 million.