Pinterest expects slower quarterly revenue growth as ad competition heats up

Aug 4 : Image-sharing platform Pinterest forecast slower revenue growth for the third quarter on Tuesday, signaling tough competition for digital advertising from bigger players including Meta's Instagram, sending its shares down 6 per cent in extended trading.Pinterest has been expanding Performance+, its AI-powered suite for advertisers, to attract more marketers by helping them optimize and scale their campaigns with less manual effort.As Meta continues to improve its Advantage+ ad automation tools, Reddit launched a broadly similar product and with ads becoming a larger focus for OpenAI, competition is expected to increase further.Last month, Google revamped Google Images with AI-powered personalized feeds and visual discovery features resembling Pinterest, indicating a broader push fo