Revenue $706 Million! Pinterest's Fourth-quarter Results Far Beat Expectations

Recently, financial reports have been released in droves. Pinterest also released its financial report for the fourth quarter of 2020 yesterday. Its performance exceeded expectations and user growth was also very strong.

Here are some key stats about Pinterest:

Earnings per share: 43 cents (Refinitiv expected 32 cents)

Revenue: $706 million (Refinitiv expected $645.6 million)

Monthly active users: 459 million (FactSet estimates 449.4 million)

Average revenue per user: $1.57 (FactSet expects $1.44)

Judging from the number of users, Pinterest had 335 million monthly active users in the fourth quarter of 2019, and reached 459 million in the fourth quarter of this year. "Pinterest grew more than 100 million monthly active users in 2020, which is unprecedented," Pinterest CEO and co-founder Ben Silberman said in a statement.

Among them, Pinterest said its monthly active users in the United States increased by 11% year-on-year to 98 million; its user base in international regions also continued to grow rapidly, increasing by 46% to 361 million.

Looking at regional revenue, Pinterest's total revenue in the United States increased 67% year-on-year to $582 million; its international revenue increased 145% year-on-year to $123 million.

Shares of Pinterest rose more than 10% in after-hours trading following the results. The company said in a letter to investors that due to the epidemic, people stayed at home and turned to Pinterest to satisfy their entertainment needs.

Pinterest said its revenue growth was driven primarily by the long holiday season and improved ad products, adding that its Shopping ad revenue grew faster than its overall business, with the number of businesses using its Shopping ad formats growing sixfold.

"Our investments in advertising tools and sales reach continue to pay off, particularly during the holiday season," Pinterest said in the report. "Ad demand remained healthy across advertiser sizes and industries, with retail demand further strengthening last quarter." recovery.”

Given its strong development momentum in international regions, Pinterest also plans to expand its influence in existing international markets in 2021 and expand into new regions such as Latin America in the first half of this year.

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