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Bill Ready, CEO of Pinterest, speaks at the 28th annual Milken Institute Global Conference (Patrick T. Fallon/Getty Images)

Pinterest drops after earnings miss

Ad-funded social media platform Pinterest reported earnings after the bell.

8/7/25 3:35PM

Pinterest dropped after falling short of analysts’ expectations for adjusted earnings per share, reporting $0.33 versus the FactSet consensus estimate of $0.35.

The social media company beat on revenue, posting $998 million versus the expected $975 million, but it wasn’t enough to keep traders from bidding the stock down after-hours. Shares were recently down 7%.

Investors have been keen to learn just how much AI could boost sales at Pinterest, which relies on advertising for “substantially all” of its revenue.

Recently, Meta surged after reporting strong performance thanks to “AI unlocking greater efficiency and gains across our ad system.” Snap, on the other hand, plummeted earlier this week after it reported slightly worse-than-expected results, suggesting that its AI investments weren’t enough to keep up with its peers.

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Tesla’s EV market share declined to 38% in August

In August, Tesla’s share of the US EV market fell to 38%, according to new data from Cox Automotive reported by Reuters. Tesla’s market share fell below 50% for the first time last year, as competitors’ EVs began hitting the market. Now, as Tesla’s own sales slip more drastically than they had last year, it’s giving up even more ground. Tesla’s market share fell from 48.7% in June to 42% in July to 38% in August, according to Reuters. That slide has come even as buyers rushing to take advantage of the federal tax credit that ends this month provide a near-term boon for sales at Tesla and other EV makers.

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OpenAI now expects to burn around $115 billion through 2029 — a full $80 billion higher than the company had previously estimated, The Information reports.

Just how much is that? It’s roughly equivalent to:

Fortunately for OpenAI, which is raising money at a $500 billion valuation, its revenue is also growing faster than expected. The ChatGPT maker now expects to make $13 billion in revenue this year and $200 billion in 2030.

An annotated photo of who attended the tech dinner at the White House.

An interactive who's-who of the tech execs at Trump's White House dinner

The White House invited a gaggle of top founders and tech executives for an intimate dinner at the White House.

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