From CNBC: 2024-04-30 17:09:48

Pinterest’s shares surged 18% after beating analysts’ estimates in Q1 with revenue of $740 million, a 23% increase from last year. Monthly active users reached 518 million, surpassing expectations, with Gen Z driving growth. Average revenue per user was $1.46. CEO Bill Ready highlighted AI and shoppability investments contributing to advertiser success.

Following a tough 2022, digital ad platforms like Pinterest are rebounding, with Meta, Snap, and Google parent Alphabet exceeding revenue expectations in Q1. Pinterest projects Q2 revenue of $835-$850 million, an 18-20% increase YoY, surpassing analyst estimates. The company’s strategic focus on user experience and advertising is paying off.



Read more at CNBC:: Pinterest shares soar 18% on earnings beat, strong revenue growth