- Pinterest reported an increase in revenue of 46 percent to $400 million for the fourth quarter of 2019. The findings surpassed the expectations of the analyst.
- Pinterest missed Wall Street estimates for quarterly revenue in the third quarter on lower-than-expected average revenue per user. Shares tumbled 19 percent on October 31 after the release
Pinterest reported an increase in revenue of 46 percent to $400 million for the fourth quarter of 2019. The findings surpassed the expectations of the analyst. For the first time, full-year sales exceeded $1.14 billion, marking a year-on-year rise of 51 percent.
Pinterest missed Wall Street estimates for quarterly revenue in the third quarter on lower-than-expected average revenue per user. Shares tumbled 19 percent on October 31 after the release
The business also beat expectations for average revenue per user and offered a positive growth outlook for 2020 as initiatives such as adding augmented reality features to its app and expanding into markets such as Denmark, Norway, and Switzerland attracted more users.
The company also reported that its monthly active users had risen to 335 million by 26 percent.
“A successful Q4 marked the end of a year in which we strengthened the Pinterest app’s base with more motivational suggestions, better results, and enhanced shopping experiences,” explained Ben Silbermann, CEO, and co-founder of Pinterest.
“In 2020, we continue to pursue our goal of making Pinterest the internet home for inspiration by focusing on delivering relevant content, ads, and shopping experiences so that Pinners can easily go from inspiration to action.”
Pinterest’s results are reinforced by solid innovation in its products and advertising technologies. The business has been working steadfastly to develop brand and eCommerce product choices to attract customers on the site.
“In both Q4 2019 and Q4 2018, advertisers using Scope by 4C increased their spending on Pinterest by nearly 50 percent,” Aaron Goldman, CMO, said at marketing technology company 4C Insights.
“While retail and consumer goods brands have been prevalent on Pinterest for years, we are starting to see much greater adoption by advertisers in categories such as travel, financial services, entertainment and automotive. Pinterest stands out as a scalable, closed ecosystem for its ability to deliver precise targeting at crucial inspirational moments.’
