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Pinterest stock plunges as losses are nearly three times higher than expected

Pinterest Inc. shares dropped more than 15% in after-hours trading Thursday, after the company reported larger losses than expected in its first quarterly earnings report since its initial public offering.

Pinterest reported a net loss of $41.4 million, or 33 cents a share, on revenue of $201.9 million, up from $131 million a year ago that the company reported in filings for its IPO. After adjusting for stock-based compensation and other effects, the company claimed losses of 32 cents a share. Analysts on average expected adjusted losses of 11 cents a share on sales of $200.7 million, according to FactSet.

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