Key Takeaways
Revenue increased by 23% year-over-year to $740 million, surpassing analyst estimates of $699.872 million.
The company reported a loss of 4 cents per share, beating analyst expectations for a loss of 9 cents per share.
Global monthly active users increased by 12% year-over-year to an all-time high of 518 million.
Average revenue per user grew by 10% year-over-year to $1.46.
CEO Bill Ready highlighted the milestone quarter, reaching over 500 million monthly active users and achieving the fastest user and revenue growth since 2021.
He attributed the success to investments in AI and shoppability, driving greater returns for advertisers and accessing performance budgets.
Pinterest expects second-quarter revenue to be in the range of $835 million to $850 million, exceeding estimates of $826.48 million.
Second-quarter operating expenses are expected to be between $490 million and $505 million.
Pinterest shares surged 18.57% after hours to $39.80 at the time of publication.
The earnings call is scheduled for 4:30 p.m. ET, where Pinterest will provide more details about its forward guidance.
This report comes amidst ongoing challenges for Meta, with Mark Zuckerberg facing advertiser complaints and Elon Musk criticizing Facebook and Instagram for allegedly stealing credit for traffic.