Equity Analyst, LightStream Research

Supun Walpola

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/pinterest-inc" target="_blank" data-smartkarma-citation="entities:27999:1" rel="noopener">Pinterest Inc (PINS US)</a> reported its 2Q 2019 financial results yesterday (1st August 2019). Pinterest reported revenue of $261m (+62% YoY) for 2Q 2019, beating consensus by around 10% ($237m). Pinterest's bottom line for the quarter was distorted with share-based compensations worth 1.1bn being included in operating results. However, excluding this, Pinterest surpassed analyst expectations at the EBITDA level, reporting an EBITDA of -$26m, compared to the consensus estimate of -$38m. Pinterest also revised its Revenue and EBITDA guidance upwards. </p>

Pinterest Inc (PINS US) reported its 2Q 2019 financial results yesterday (1st August 2019). Pinterest reported revenue of $261m (+62% YoY) for 2Q 2019, beating consensus by around 10% ($237m). Pinterest's bottom line for the quarter was distorted with share-based compensations worth 1.1bn being included in operating results. However, excluding this, Pinterest surpassed analyst expectations at the EBITDA level, reporting an EBITDA of -$26m, compared to the consensus estimate of -$38m. Pinterest also revised its Revenue and EBITDA guidance upwards. 

Monetisation of International Markets Occuring Faster Than Expected; Getting Closer to Profitability