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Investors in Pinterest (NYSE: PINS) are waking up to a wall of red this morning. The stock price of the popular digital image-sharing board has fallen off a cliff after the company reported its Q4 2025 results yesterday. Heres what you need to know. Pinterests Q4 2025 results From a quick glance, Pinterests results for its fourth quarter of fiscal 2025 didnt look too bad. The company reported some impressive gains in a couple of key metrics. Those metrics include: Total revenue: $1.32 billion (up 14% year over year) Global Monthly Active Users (MAUs): 619 million (up 12% year over year) However, despite those gains, the company’s $1.32 billion in revenue came in below what analysts were expecting. As noted by CNBC, LSEG consensus estimates were that Pinterest would post $1.33 billion in revenue. The company also reported an adjusted earnings per share (EPS) of 67 cents. That was below analyst expectations of an EPS of 69 cents. Worse, Pinterest said it expects its current-quarter revenue, for Q1 of its fiscal 2026, to be between $951 million and $971 million. While that range represents year-over-year growth of between 11% and 14%, even the high-end estimate is well below the $980 million analysts were expecting. Pinterest blames tariffs for earnings miss So what is behind the worse-than-expected results? The company blamed one primary thing: tariffs. At first, a tariff’s impact on Pinterests revenue might seem a little unbelievable. After all, Pinterest does not import and sell physical goods, which would seem to lessen any potential impact that President Trumps erratic tariff policies could have on the companys bottom line. The problem for Pinterest is that while the company may not be in the business of selling imported goods, many of Pinterests main customersits advertisersare. And those advertisers are responding to increased tariff costs by cutting back on their ad spend, which impacts Pinterests bottom line. Many of the largest retailers have been disproportionately impacted by tariffs and have been pulling back on advertising spend across the industry as they seek to protect their margins, Pinterests CEO, Bill Ready, said on the companys financial call, according to a PitchPook transcript of the call. Our higher mix of large retailers relative to some of our peers has resulted in us feeling more of an impact. But while Ready shifted the blame to tariffs, he also conceded that the company wasnt diversified enough when it came to its range of advertisers. This highlights the need for us to further accelerate our growth with a broader set of mid-market, SMB, and international advertisers with less than $30 billion of GMV [gross merchandise volume], Ready said. This is the next phase of our sales and go-to-market transformation. Pinterest’s stock price has had a bad year Even before todays 20% premarket decline, PINS stock has been having a rough time lately. The companys stock price closed at $18.54 yesterday. That represented a fall of more than 28% since the year began, and a staggering 52% drop over the past twelve months. At its current premarket price of around $14.56 a share, PINS stock has not seen a price this low since early 2020. To put Pinterest’s recent share price doldrums into a broader context, the stock market Pinterest trades onthe New York Stock Exchange (NYSE)has seen gains while PINS continues to drop. Data from Yahoo Finance shows the NYSE Composite Index has risen 5.3% year to date, and more than 15.5% over the past 12 months.
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E-Commerce
Since Spencer Rascoff took over as Match Group CEO in early 2025, he has set about trying to revive its portfolio of dating apps, in part by winning back user trust and courting Gen Z. Trust is the foundation of real connections, and we are committed to rebuilding it with urgency, accountability, and an unwavering focus on the user, Rascoff said last March in a letter to employees sharing his vision. As part of that turnaround and effort to cultivate trust, Match Groupthe parent company of Tinder, Hinge, and OkCupidhas also sought to revamp its internal culture over the last year, in the interest of imbuing the company with greater transparency. A few months into Rascoffs tenure as CEO, the company also announced layoffs, which affected 13% of its workforce. In a LinkedIn post today detailing Match Group’s culture shift, Rascoff argued that transparency had been critical to the companys transformation over the last year. Ive seen a noticeable shift: stronger collaboration, faster ideas sharing, and sharper execution, he wrote. It’s a sign to me that the culture of transparency has taken hold. Rascoff shared how, exactly, Match Group fostered that transparency, starting with giving employees a direct line to ask questions or provide feedback. Employees have the option of remaining anonymous or including their name and engaging in a back-and-forth with Rascoff if appropriate. I read every single submission, and I respond to every message that comes in, he wrote, adding, If the sender includes their name, I follow up with that person directly, and many great conversations have been sparked in this way. If the sender chooses to remain anonymous, then I write up an answer and share it broadly with the company monthly. This feedback channel has prompted more than 300 messages and led to several changes at Match Group, including a shared GitHub repository for engineers across the company and a standing monthly meeting between Rascoff and the Gen Z employee resource group. Rascoff also claims to answer every question that is submitted prior to the companys all-hands meetings. Transparency only works if it goes both ways, he wrote on LinkedIn. You cant expect people to speak up if you dont show them it makes a difference. Rascoff has also taken the unusual step of not only asking for feedback but actually receiving feedback on his own performance in a public forum. Match Groups head of talent management conducted his mid-year review in an all hands meeting last year, allowing employees to listen in on his performance evaluation and see the goals that would govern his priorities for the rest of 2025. In March, Rascoff also plans to share his 2025 self-assessment with the whole company. Its not yet clear whether Match Groups overhaul will prove successful. But Rascoff claims the push for transparency has already moved the needle on company culture. At Tinder, employee engagement has jumped by 10% over the last six months. And in Match Groups annual employee survey, there was a 13% increase in the share of people who agreed with the statement that the executive team keeps them informed. One year as CEO, whats mattered most to me is creating the conditions where great people can thrive, Rascoff told Fast Company. When teams are trusted and aligned, they move faster and feel more connected to the work. Watching that happen has been deeply motivating for me, and it makes me excited about the progress we can continue to make from here.
Category:
E-Commerce
Kathy Ruemmler, the top lawyer at storied investment bank Goldman Sachs and former White House counsel to President Barack Obama, announced her resignation Thursday, after emails between her and Jeffrey Epstein showed a close relationship where she described him as an “older brother” and downplayed his sex crimes.Ruemmler said in a statement that she would “step down as Chief Legal Officer and General Counsel of Goldman Sachs as of June 30, 2026.”Up until her resignation, Ruemmler repeatedly tried to distance herself from the emails and other correspondence and had been defiant that she would not resign from Goldman’s top legal post, which she had held since 2020.While Ruemmler has called Epstein a “monster” in recent statements, she had a much different relationship with Epstein before he was arrested a second time for sex crimes in 2019 and later killed himself in a Manhattan jail. Ruemmler called Epstein “Uncle Jeffrey” in emails and said she adored him.In a statement before her resignation, a Goldman Sachs spokesperson said Ruemmler “regrets ever knowing him.”In her statement Thursday, Ruemmler said: “Since I joined Goldman Sachs six years ago, it has been my privilege to help oversee the firm’s legal, reputational, and regulatory matters; to enhance our strong risk management processes; and to ensure that we live by our core value of integrity in everything we do. My responsibility is to put Goldman Sachs’ interests first.”Goldman CEO David Solomon said in a separate statement: “As one of the most accomplished professionals in her field, Kathy has also been a mentor and friend to many of our people, and she will be missed. I accepted her resignation, and I respect her decision.”During her time in private practice after she left the White House in 2014, Ruemmler received several expensive gifts from Epstein, including luxury handbags and a fur coat. The gifts were given after Epstein had already been convicted of sex crimes in 2008 and was registered as a sex offender.“So lovely and thoughtful! Thank you to Uncle Jeffrey!!!” Ruemmler wrote to Epstein in 2018.Historically, Wall Street frowns on gift-giving between clients and bankers or Wall Street lawyers, particularly high-end gifts that could pose a conflict of interest. Goldman Sachs requires its employees to get preapproval before receiving or giving gifts from clients, according to the company’s code of conduct, partly in order to not run afoul of anti-bribery laws.As late as December, Goldman CEO David Solomon described Ruemmler as an “excellent lawyer” and said she had his full faith and backing. Ken Sweet, AP Business Writer
Category:
E-Commerce
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