By John Meyer, consultant in financial affairs – Eurasia Business News, November 7, 2024. Article No 1295.

Pinterest has reported a strong performance in the third quarter, with revenue and profit increasing due to a rise in both advertisers and users.

Revenue Growth: Pinterest’s sales in the U.S. and Canada grew by 16%, reaching $719 million. Meanwhile, European sales saw a 20% increase, totaling $137 million. This growth indicates a robust demand for advertising on the platform, particularly in North America, which remains its primary revenue source.

User Engagement: The platform has successfully attracted more users, contributing to its revenue growth. The number of monthly active users (MAUs) continues to rise, although the pace of user growth has shown signs of slowing compared to previous quarters.

“We delivered another strong quarter with users reaching another all-time high of 537 million and revenue growth at 18%,” said Bill Ready, CEO of Pinterest. “Our AI investments are driving results by powering better personalized experiences and greater performance for advertisers, with our lower-funnel ad tools being the fastest-growing part of our business. Advertisers are increasingly relying on Pinterest to engage our growing audience who see us as a great place to find inspiration, curate and shop.”

Read also : Gold : Build Your Wealth and Freedom

Strategic Investments: Pinterest’s investments in enhancing shoppability and leveraging artificial intelligence have played a significant role in attracting advertisers. These initiatives have improved user engagement and advertising effectiveness, which are crucial for sustaining revenue growth.

Advertisements

Overall, Pinterest’s third-quarter results reflect a positive trajectory, driven by increased advertising revenue and user engagement across its key markets.

Guidance

For Q4 2024, Pinterest expect revenue to be in the range of $1,125 million to $1,145 million, representing 15-17% growth year over year. Pinterest expect Q4 2024 Non-GAAP operating expenses* to be in the range of $495 million to $510 million, representing 11-14% growth year over year. This operating expense guidance does not include cost of revenue.

Pinterest is an American social media service for publishing and discovery of information in the form of pinboards. This includes recipes, home, style, motivation, and inspiration on the Internet using image sharing. Pinterest, Inc. was founded by Ben Silbermann, Paul Sciarra, and Evan Sharp, and is headquartered in San Francisco (California).

Our community already has nearly 140,000 readers!

Subscribe to our Telegram channel

Follow us on Telegram, Facebook and Twitter

© Copyright 2024 – Eurasia Business News. Article no. 1295