Pinterest reported its third-quarter financial results for the period ending September 30, 2024, with a revenue of $898.4 million, marking an 18% increase from the same period in 2023. The company's Monthly Active Users (MAUs) grew by 11% to 537 million. Despite a loss from operations of $5.9 million, Pinterest achieved a net income of $30.6 million and an Adjusted EBITDA of $242.1 million. The company's cash reserves, including cash equivalents and marketable securities, stood strong at $2,442.6 million. Pinterest's revenue growth was primarily driven by a 5% increase in global Average Revenue per User (ARPU) and an 11% increase in MAUs. U.S. and Canada ARPU saw a 13% increase, Europe ARPU went up by 10%, and Rest of World ARPU increased by 18%. The company's investments in relevance and...Show More

Pinterest reported its third-quarter financial results for the period ending September 30, 2024, with a revenue of $898.4 million, marking an 18% increase from the same period in 2023. The company's Monthly Active Users (MAUs) grew by 11% to 537 million. Despite a loss from operations of $5.9 million, Pinterest achieved a net income of $30.6 million and an Adjusted EBITDA of $242.1 million. The company's cash reserves, including cash equivalents and marketable securities, stood strong at $2,442.6 million. Pinterest's revenue growth was primarily driven by a 5% increase in global Average Revenue per User (ARPU) and an 11% increase in MAUs. U.S. and Canada ARPU saw a 13% increase, Europe ARPU went up by 10%, and Rest of World ARPU increased by 18%. The company's investments in relevance and personalization have been credited for the growth in global MAUs. Pinterest's future plans include continued investments in its platform to drive user engagement and monetization. The company's financial strategy is supported by a robust liquidity position, with significant cash reserves and a $500 million revolving credit facility that has not been drawn upon as of the report date.