Pinterest Inc. (PINS) Q2 2025 Earnings Preview
Pinterest is scheduled to report its second-quarter 2025 earnings on August 7, 2025, covering the fiscal period ended June 30, 2025. The company enters the report with strong year-over-year growth in users, expanding international monetization, and a growing suite of AI-powered ad tools that could further accelerate performance.
Street Forecasts & Company Guidance
| Metric | Consensus Estimate | YoY Growth Estimate |
|---|---|---|
| Revenue | $973M (midpoint) | +14–15% |
| EPS (Non-GAAP) | ~$0.34–$0.35 | +~17% |
| Adj. EBITDA Margin | 24–25% | Flat to slightly up |
Pinterest’s internal guidance of $960M–$980M in revenue slightly beat initial expectations, leading to bullish sentiment from several covering analysts.
Revenue Growth Outlook
Following 16% YoY growth in Q1 2025, Pinterest is expected to deliver another solid quarter, driven by:
- Strong international momentum, especially in Europe and Rest of World (RoW)
- Improved monetization efforts beyond North America
- AI-powered tools enabling better ad ROI
In Q1, RoW revenue grew 49% YoY and ARPU jumped 29% — similar trends in Q2 would support a strong topline result.
User & Monetization Trends to Watch
- MAUs Expected: >530M (Q1 benchmark: 518M)
- ARPU Focus:
- U.S./Canada: Q1 ARPU was $6.54 (+8% YoY)
- Europe: $1.00 (+17%)
- RoW: $0.14 (+29%)
Gen Z now makes up ~42–44% of the user base and is Pinterest’s fastest-growing and most monetizable cohort, driven by intent-driven visual discovery and shopping.
AI & Ad Tools
Pinterest’s Performance+ suite and new shopping integrations are seen as potential game-changers:
- Enhanced campaign automation
- Better targeting and click-through performance
- Advertiser feedback has been strong, with adoption expanding across sectors
Analysts from J.P. Morgan and Guggenheim highlight these tools as key catalysts for revenue acceleration and advertiser growth.
Analyst Commentary
- J.P. Morgan: Upgraded to Overweight, target $40
- Stifel: Raised target to $46, citing monetization upside
- Guggenheim: Target to $44, sees top-end guidance achievable
- Bank of America: Cautious outlook, cut target to $35 citing macro headwinds
Sentiment remains generally bullish, with most firms forecasting continued user and revenue growth into 2026.
🚩 Risks
| Concern | Possible Impact |
|---|---|
| U.S. ARPU stagnation | Slows topline despite user growth |
| Weak ad demand (e.g. CPG) | Could mute Q2 results |
| AI tools fail to scale | Undermines monetization pitch |
| Macro ad budget pressure | May impact Q3 forward guidance |
✅ What Will Impress the Street
| Indicator | Market Reaction |
|---|---|
| Revenue > $975M | Confirms top-end execution |
| EPS > $0.35 | Strong margin discipline |
| MAUs > 535M | Sustained platform engagement |
| ARPU expansion in Europe/RoW | Confirms global monetization path |
| Advertiser commentary | Signals future upside |
Final Takeaway
Pinterest is expected to post another strong quarter, but to outperform expectations, it must demonstrate:
- Sustained ARPU growth (especially internationally)
- Traction from AI-based ad products
- Continued Gen Z engagement and monetization
While risk remains from macro pressures and digital ad budget shifts, Pinterest’s positioning as a high-intent, visual discovery platform with rising performance ad capabilities gives it a favorable outlook heading into Q2 results