Pinterest's profit miss dims strong revenue, user growth
The social media platform reported adjusted profit per share of 33 cents, missing analysts' average estimate of 35 cents, according to data compiled by LSEG.
However, revenue rose 17 per cent to $998.2 million, beating expectations of $974.8 million.
The growth was driven by a surge in Gen Z users—who now represent more than half of Pinterest's user base— and the platform's AI-powered tools, which have attracted advertisers seeking personalized and automated campaigns.
Pinterest's results follow Meta and Reddit's strong second quarter performance last week. In contrast, Snap reported its slowest quarterly revenue growth in over a year.
The company's focus on direct-response ads, designed to prompt specific actions like shopping, app downloads, or website visits, continued to drive ad demand. Its stock has risen about 35 per cent so far this year.
"We've found our best product market fit ever by becoming a personalized shopping destination for users and an AI-powered performance platform for advertisers," CEO Bill Ready said in a statement.
Pinterest has third-party ad deals with Google, Amazon.com and advertising platform Magnite.
Global monthly active users on the platform rose 11 per cent to 578 million, exceeding estimates of 553 million.
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Independent Singapore
11 hours ago
- Independent Singapore
'I don't know how to help anymore': Woman opens up about nearly three years of job hunt support and financial aid for best friend
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- Independent Singapore
'No, Thanks' is sold out?: Redditor shares being unable to checkout at a McDonald's kiosk without buying a lunch bag
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Business Times
19 hours ago
- Business Times
Meta's US$29 billion deal marks pivotal moment for private credit
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