Pinterest Surges as AI Expected to Lure Advertiser Spending

Pinterest Inc. surged in extended trading after second-quarter revenue guidance topped estimates at the midpoint, further easing concerns of an advertising slowdown.

Shares advanced as much as 18% amid signs that efforts to use artificial intelligence to boost growth are paying off. Revenue for the second quarter will be $960 million to $980 million, the company said in a statement on Thursday, exceeding analyst expectations of $963.7 million.