Pinterest Shares Slip More Than 8% as CEO Points to International Pressures

Pinterest's stock fell more than 8% on Wednesday, touching its lowest intraday level since May 21 after Chief Executive Bill Ready spoke at the Goldman Sachs Communacopia + Technology Conference.

Ready echoed remarks from the company's second-quarter conference call in August about the international business's challenges, saying that Pinterest's operations outside the United States face pressure on two fronts.

The first is new European regulation limiting cross-border sellers from Asia. The second is Pinterest's restructuring of its international business and go-to-market strategy, similar to changes it previously made in the U.S.

The U.S. restructuring involved upgrades to the company's AI-based advertising platform and a substantial overhaul of its go-to-market approach. "We're basically taking that playbook from the US," Ready said.

He added: "That will create some near-term pain to restructure those things, but we think is very good for us in the medium to long term."

Ready went on to say that international monetization still requires "a lot more" work.