Pinterest – the American image sharing, and social media service reported its Q3 earnings, and the promising results made Wall Street gloat.
In the US – the company’s largest market, the revenue jumped 49% to $374 million. Per-user, the reported revenue was of $1.03, above the 90 cents/user consensus. At the same time, the monthly active users (MAUs) reached 442 million – a 37% increase from the same time last year.
Pinterest’s EPS outperformed the expectations, coming in at $0.13.
The company’s overall revenue went up 58% to $443 million, topping the $383.5 million forecasted.
Pinterest expects its sales to report a 60% growth in Q4. According to its statement, the steady rebound in ad spending will probably boost the sales after in the first half of the year the pandemic ravaged the industry. However, the 60% growth is considered by the company to be an “informal” one. Wall Street forecasted a 35% increase in Q4.
Following the report, Pinterest stock price gained 31.8%.
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Sources: finance.yahoo.com, tipranks.com
