![](https://cdn.benzinga.com/files/imagecache/2048x1536xUP/images/story/2022/05/23/34556700840_01177fe5d5_k.jpg)
Pinterest Inc (NYSE:PINS) shares are falling in Monday's after-hours session after Snap Inc (NYSE:SNAP) filed a Form 8-K with the U.S. Securities and Exchange Commission showing the company expects to miss its previously-issued guidance.
"The macroeconomic environment has deteriorated further and faster than anticipated," Snap said in the filing. As a result, the company now expects to report second-quarter revenue and adjusted EBITDA "below the low end" of its guidance range.
Last month, Snap guided for second-quarter revenue growth of 20% to 25% year-over-year. The company said it expected adjusted EBITDA to be between breakeven and $50 million.
Pinterest and Snap both operate social media platforms. Pinterest offers a visual discovery engine where people find inspiring creators, shop new products and seek out ideas to take offline.
See Also: Why Zoom Video Shares Are Surging After Hours
PINS Price Action: Pinterest shares have traded between $18.32 and $81.77 over a 52-week period.
The stock was down 15.89% in after hours at $19 at press time, according to data from Benzinga Pro.
Photo: ThoroughlyReviewed from Flickr.