share_log

Pinterest | 8-K: Pinterest Announces First Quarter 2024 Results, Reports 23% Revenue Growth and More Than Half A Billion Monthly Active Users

SEC ·  May 1 04:54
Summary by Futu AI
On April 30, 2024, Pinterest, Inc. reported its financial results for the first quarter ended March 31, 2024. The company announced a 23% increase in revenue to $740 million and a 12% growth in global monthly active users (MAUs) to 518 million. Despite the revenue growth, Pinterest experienced a GAAP net loss of $25 million for the quarter. Adjusted EBITDA was reported at $113 million. CEO Bill Ready attributed the strong performance to investments in AI and shoppability, which have improved returns for advertisers and product market fit. The company also provided guidance for the second quarter of 2024, expecting revenue between $835 million to $850 million, which would represent an 18-20% year-over-year growth, and non-GAAP operating expenses in the range of $490 million to $505 million. The financial results and future outlook were discussed in a conference call on the same day. Pinterest's press release included non-GAAP financial measures, with reconciliations to GAAP financial measures provided.
On April 30, 2024, Pinterest, Inc. reported its financial results for the first quarter ended March 31, 2024. The company announced a 23% increase in revenue to $740 million and a 12% growth in global monthly active users (MAUs) to 518 million. Despite the revenue growth, Pinterest experienced a GAAP net loss of $25 million for the quarter. Adjusted EBITDA was reported at $113 million. CEO Bill Ready attributed the strong performance to investments in AI and shoppability, which have improved returns for advertisers and product market fit. The company also provided guidance for the second quarter of 2024, expecting revenue between $835 million to $850 million, which would represent an 18-20% year-over-year growth, and non-GAAP operating expenses in the range of $490 million to $505 million. The financial results and future outlook were discussed in a conference call on the same day. Pinterest's press release included non-GAAP financial measures, with reconciliations to GAAP financial measures provided.
Helpful
Not Helpful

This announcement is a separate document:

Doc 1

Doc 2

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.