Pinterest Shares Jump After Impressive Earnings Report

Published 1 hours agoPINS

Pinterest Shares Jump After Impressive Earnings Report

Pinterest's shares saw a significant rise in extended trading on Thursday, following the release of its first-quarter earnings report. The company reported $855 million in revenue, reflecting a 16% year-over-year increase, and an impressive 10% rise in global monthly active users, reaching a total of 570 million. Reuters reported that these figures were well-received by investors, leading to the surge in Pinterest's stock.

The company attributed its earnings growth to successful performance in direct response advertising, which drives user interactions like shopping and app downloads. Additionally, Pinterest's appeal to Generation Z, who now make up over 40% of its user base, and its AI-driven personalized ad tools, have attracted increasing interest from advertisers. This growth in ad spending signals strong market positioning for Pinterest.

Looking ahead to the next quarter, Pinterest projects revenue between $960 million and $980 million, exceeding Wall Street's average estimate of $966.3 million, with expected adjusted EBITDA ranging from $217 million to $237 million. These optimistic forecasts were instrumental in boosting Pinterest's stock by 11% in after-hours trading, emphasizing the company's solid strategy in capitalizing on digital advertising trends.

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