Pinterest shares soar 16% on earnings beat, strong revenue growth [CNBC]
FactSet Research Systems Inc. (FDS)
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Source: CNBC
Here's how the company did, compared to LSEG analyst expectations: Revenue for the quarter jumped 23% from $602.6 million a year earlier. Pinterest's net loss for the first quarter narrowed to $24.8 million, or a 4 cent loss per share, from $208.6 million, or a 31 cent loss per share, a year earlier. Pinterest reported 518 global monthly active users (MAUs) for the first quarter, up 12% year over year. Wall Street was expecting MAUs 504.9 million, according to StreetAccount. Pinterest said Generation Z is its fastest-growing, largest and most engaged demographic on the platform. The company's average revenue per user was $1.46 for the period, while StreetAccount was expecting $1.40 per user. In its first-quarter release, Pinterest CEO Bill Ready said the company is driving greater returns for advertisers because of its investments in AI and shoppability. “We're executing with tremendous clarity and focus, shipping new products and experiences that users want, and in doing s
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- 3/21/24 - Beat
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- 5/6/24 - Form 4
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