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Pinterest's shares have risen sharply following the release of its second earnings report. (Illustration by Thomas Trutschel / Photothek via Getty Images)
Photo Gallery via Getty Images
The action Pinterest has jumped more than 15% after announcing a lower-than-expected loss in its second quarterly earnings report after the market closes on Thursday.
The image-based search, sharing and purchasing platform generated $ 261 million in revenue, exceeding Refinitiv's forecast of $ 235.53 million. According to badysts surveyed by Refinitiv, Pinterest has also raised its forecast revenue for 2019 between 1.095 and 1.115 billion USD, a level above the consensus of 1.08 billion USD. If the forecasts are true, this will be the first time that Pinterest will generate annual revenue in excess of $ 1 billion.
"We are constantly aiming to make Pinterest more personal, relevant and useful to our users," said Ben Silbermann, CEO, in a statement. . This is part of our larger, ongoing efforts to create value for business on Pinterest. "
Pinterest & nbsp; The global user base accounted for the majority of the expansion, with more than 300 million monthly active users in the second quarter, up 30 percent from 231 million UAM a year earlier. Pinterest reported 215 million UMM in non-US markets, up 38 percent from 156 million last quarter. This compares with UM 85 million in the United States, an increase of 13% from $ 75 million in the previous quarter.
Pinterest has updated several major features & nbsp; Since its IPO in February, the second quarter was marked by the launch of & nbsp; improved search recommendations, more video content and buyable products. & nbsp;
Advertising remains the only source of revenue for the company, as Pinterest increasingly uses artificial intelligence to improve its reach and increase merchandise sales on the platform. The second quarter results suggest that this is paying off. & Nbsp;
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Pinterest's shares have risen sharply following the release of its second earnings report. (Illustration by Thomas Trutschel / Photothek via Getty Images)
Photo Gallery via Getty Images
The action Pinterest has jumped more than 15% after announcing a lower-than-expected loss in its second quarterly earnings report after the market closes on Thursday.
The image-based search, sharing and purchasing platform generated $ 261 million in revenue, exceeding Refinitiv's forecast of $ 235.53 million. According to badysts surveyed by Refinitiv, Pinterest has also raised its forecast revenue for 2019 between 1.095 and 1.115 billion USD, a level above the consensus of 1.08 billion USD. If the forecasts are true, this will be the first time that Pinterest will generate annual revenue in excess of $ 1 billion.
"We are constantly aiming to make Pinterest more personal, relevant and useful to our users," said Ben Silbermann, CEO, in a statement. . This is part of our larger, ongoing efforts to create value for business on Pinterest. "
The global user base of Pinterest accounted for the majority of the expansion, with over 300 million monthly active users in the second quarter, up 30 percent from 231 million UAM a year ago. Pinterest reported 215 million UMM in non-US markets, up 38 percent from 156 million last quarter. This compares with UM 85 million in the United States, an increase of 13% from $ 75 million in the previous quarter.
Pinterest has updated several major features since its initial public offering in February. The second quarter was marked by the launch of improved search recommendations, more video content and shoppable products.
Advertising remains the only source of revenue for the company, as Pinterest increasingly uses artificial intelligence to improve its reach and increase merchandise sales on the platform. Second quarter profits suggest that this is paying off.
This story is growing …
