The Interpublic Group of Companies, Inc. (IPG)

UPDATE 1-Pinterest forecasts quarterly revenue above estimates, shares surge

Pinterest forecast second-quarter revenue above Wall Street estimates on Tuesday, expecting a boost from growing advertising spend on the image-sharing platform, sending shares up more than 20% in after-market trading. The company has benefited from marketers turning to the digital platform to reach Gen Z users - more than 40% of its user base - and leverage its new AI-driven ad tools and latest ad formats, which offer better user engagement. Last month, ad group Interpublic Group's media research unit MAGNA Global said it expects the U.S. ad Market to grow by more than 9% this year to reach $369 billion.