Pinterest Inc.’s stock tumbled in after-hours trading Thursday after the company, which operates a platform for photo and video sharing, posted third-quarter earnings showing a slim revenue beat.
Earnings Presentation : https://s204.q4cdn.com/369458543/files/doc_earnings/2024/q3/presentation/2024-Q3-IR-Earnings-Presentation.pdf
Q3 Revenue of $898 million, an increase of 18%
Record 537 million global monthly active users, an increase of 11%
SAN FRANCISCO–(BUSINESS WIRE)– Pinterest, Inc. (NYSE: PINS) today announced financial results for the quarter ended September 30, 2024.
- Q3 revenue grew 18% year over year to $898 million.
- Global Monthly Active Users (“MAUs”) increased 11% year over year to 537 million.
- GAAP net income was $31 million for Q3. Adjusted EBITDA* was $242 million for Q3.
- Total costs and expenses were $904 million.
“We delivered another strong quarter with users reaching another all-time high of 537 million and revenue growth at 18%,” said Bill Ready, CEO of Pinterest. “Our AI investments are driving results by powering better personalized experiences and greater performance for advertisers, with our lower-funnel ad tools being the fastest-growing part of our business. Advertisers are increasingly relying on Pinterest to engage our growing audience who see us as a great place to find inspiration, curate and shop.”