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Pinterest Earnings, Revenue Beat in Q3 -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Pinterest (NYSE 🙂 has announced 28 cent earnings per share on revenue $632.9million. According to analysts polled Investing.comOn revenue of $631.37million, EPS was expected to be 23c.

Pinterest’s Global Monthly Active Users (MAUs), increased by 1% to 444 Million.

After the report, Pinterest shares increased by 4.26% and now stand at $45.50

CEO and co-founder Ben Silbermann said the company was “pleased with the financial results” delivered in Q3.

“Revenue grew 43% year-over-year and I am proud of the team’s progress in launching a number of new products for both creators and brands, bringing more video content and shoppable features to Pinterest,” he added.

According to the social media platform, Q4 revenue is expected to increase in the teens% range over the previous year. It also anticipates non-GAAP operating costs to rise in the teens quarter to quarter, as it continues investing in the business.

According to the company, “The development of COVID-19 as well as the effect of the pandemic unravel on engagement are still unknown.”

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