Pinterest (PINS) beats earnings estimates in Q1 with revenue growth, MAU increase, and narrowed losses.

From Nasdaq: 2024-05-30 11:31:12

Pinterest (PINS) reported strong Q1 2024 results, beating estimates with revenue of $740 million. MAUs grew by 12% to 518 million globally. Lower funnel solutions and AI tools drove revenue growth. Loss narrowed to $24.8 million from $208.6 million. The company expects Q2 revenue of $835-850 million.

Pinterest’s (PINS) investment in AI tools and third-party ad ecosystem boosted revenue in Q1. 97% of lower funnel revenue came from Direct Links. Net sales in the U.S. and Canada rose 22%, Europe 27%, and the Rest of World 25%. MAUs grew in all regions year over year.

Meta Platforms (META) reported 27.3% revenue growth in Q1. EPS increased to $4.71 from $2.64. Expected Q2 EPS is $4.67, up 44.6% year over year. Over the past month, the Zacks Consensus Estimate for Meta Platforms has increased by 0.2%. The overall estimate revisions led to a Zacks Rank #3.

Pinterest (PINS) has a Zacks Rank #3 with upward estimate revisions in the past month. The stock has a VGM Score of C. Pinterest expects strong revenue growth in Q2. Analysts anticipate an in-line return from Pinterest stock moving forward. Estimated growth looks promising for the coming months.



Read more at Nasdaq: Why Is Pinterest (PINS) Up 4.1% Since Last Earnings Report?