in its first quarterly report since going public in April. Pinterest reported $201.9 million in revenue, but noted that expenses grew by almost a third compared to a year earlier due mostly to the cost of adding new employees. Pinterest reported a higher-than-expected number of monthly active users.
Applied Materials reported adjusted quarterly profit of 70 cents per share, beating consensus estimates by 4 cents a share. The semiconductor manufacturing equipment maker also reported better-than-expected revenue, and its guidance for the current quarter is largely above analysts' forecasts. The results are alleviating some concerns about a slowing semiconductor market.
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