Pinterest turned a profit in the third quarter! Revenue increased 43% year-on-year to $633 million!

It is learned that due to the increase in demand from large retail advertisers and the growth of international business, the US social software Pinterest announced a turnaround in its third-quarter financial report. Pinterest's stock price rose 6.03% in after-hours trading on Thursday (November 4). The following is a summary of the financial report:

• Revenue increased 43% year-on-year to $633 million, higher than the market expectation of $630 million;

• Revenue from the U.S. market increased by 33% year-on-year to $498 million, compared with $374 million in the same period last year;

• International market revenue increased by 96% year-on-year to $135 million, compared with $69 million in the same period last year.

• Net profit was $94 million, compared with a loss of $94.2 million in the same period last year;

• Adjusted earnings per share were $28, compared with market expectations of $23;

• Global monthly active users increased 1% to 444 million, while Factset expected 460 million;

• The number of monthly active users in the U.S. market fell 10% year-on-year to 89 million, compared with 98 million in the same period last year;

• The number of monthly active users in the international market increased by 4% year-on-year to 356 million, compared with 343 million in the same period last year;

• The number of users using the app’s shopping feature, known as “pinners,” has increased 60% from a year ago.

As of November 2, 2021, there are approximately 89 million monthly active users in the United States and approximately 447 million monthly active users worldwide. Pinterest said that the key strategic focus in 2021 will remain content, Pinner experience, advertising business and social online shopping, and it plans to continue investing in these projects this year.

It is learned that the revenue in the fourth quarter of fiscal year 2020 was US$706 million. Pinterest predicts that the revenue growth in the fourth quarter will be around 10%. 24 Yahoo Finance analysts previously expected Pinterest's fourth-quarter revenue to reach US$874.08 million.

Editor ✎ Estella /

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