The following is a summary of the Pinterest, Inc. (PINS) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Pinterest reported Q3 2024 global revenue of $898 million, marking an 18% year-over-year growth on both reported and constant currency bases.

• Adjusted EBITDA for Q3 stood at $242 million with an adjusted EBITDA margin of 27%, showing a 280 basis points increase compared to the previous year.

• Ad impressions grew 41% while ad pricing declined by 17% year-over-year, due to an increase in ad impressions and the mix shift impacting the overall global platform pricing.

Business Progress:

• Pinterest achieved a record high of 537 million global monthly active users, with an 11% year-over-year growth. Notably, users in the US and Canada grew by 3% to 99 million, Europe saw an 8% increase to 139 million, and Rest of World markets grew 16% to 300 million.

• The company has successfully enhanced product market fit, reflected by improvements like the integration of shopability into major user experiences, the launch of new collage features, and expanded shopping features internationally, including 'Shop the Look' and 'Ways 2 Style'.

• Bill Ready highlighted the use of AI in transforming business, enhancing user and advertiser experiences by powering all content, including ads, through AI recommendation models.

Opportunities:

• Pinterest's strategy includes increasing lower-funnel revenue by enhancing user engagement and monetization capabilities, which in Q3 drove significant revenue growth.

• There's ongoing development and expansion of third-party partnerships and international markets, such as the expanded relationship with Amazon Ads and the Google partnership.

• New holiday shopping tools and deals aimed to enhance user and advertiser engagement during the holiday season.

• The introduction of Performance+ and advancements in AI-driven ad capabilities to improve ad campaign creation and optimization.

Risks:

• There is an ongoing softness in the food and beverage subsector which may continue to impact revenue growth negatively, as indicated by Julia Donnelly.

• The introduction and adoption of new features like Performance+ may face challenges during initial phases, which could affect the anticipated growth and budget shifts amongst advertisers.

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