Reddit and Pinterest slump after hours on Q3 results and outlook (Oct 29)

What happened

Reddit (RDDT) reported a jump in third-quarter sales but slower-than-expected user growth, and shares slumped 16% in postmarket trading. Pinterest (PINS) posted quarterly results and an outlook that both came in below Wall Street expectations, sending shares 11% lower after hours. Both misses arrived in tonight's after-hours session, alongside Intel's 17%+ slide on weak Q4 guidance, Amazon's ~6% drop on an EPS/revenue miss, and Starbucks' ~2% dip on a revenue miss.

Who’s affected

• RDDT - directly; ad-revenue growth now the question after user-growth miss
• PINS - directly; weak results and outlook reset the bar
• META - sector read-through; ad-spend health benchmark
• GOOGL - sector read-through; reinforces search/ad slowdown narrative
• SOCL/ad-tech peers - sentiment overhang into Friday's session

Sources

wsj.cominvestinglive.com