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Income Pinterest rose 58% in the fourth quarter, the company expects growth of 60%

admin by admin
November 2, 2020
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Income Pinterest rose 58% in the fourth quarter, the company expects growth of 60%
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Pinterest reported third quarter earnings that far surpassed analysts ‘ expectations thanks to strong growth in the number of international users. The company gave a forecast for revenue growth for the fourth quarter of 60%.

Доходы Pinterest выросли на 58%, в четвертом квартале компания ожидает роста на 60%

Shares Pinterest (PINS), an increase of 164% since the beginning of the year increased by 28% in after-hours trading on Wednesday against the publication of a successful 3rd quarter ended 30 September.

Company Pinterest, with its platform for sharing images, have benefited from the transition of many advertisers in digital advertising in the context of pandemic COVID-19.

As the company Snap (SNAP), which issued its quarterly report earlier last week, Pinterest said that the growth was partly linked to the boycott of advertisers of the company Facebook (FB). Guide the world’s largest social. the network blamed that they are not doing enough to prevent “incitement of hatred” and misinformation on the platform.

“Advertisers tell us Pinterest is safe for the brand compared to other consumer Internet platforms,” said chief financial officer Todd Pinterest Morgenfeld.

At the same time, the user Pinterest warned investors that this growth may weaken after the US elections in November.

Pinterest key figures 3rd quarter 2020

Pinterest reported an increase in earnings per share to $0.13 PCT, above analyst estimates of $0,03. The sum of quarterly earnings rose to $87 thousand compared to $5,96 thousand in the 3rd quarter 2019.

Total quarterly revenue grew 58% to $443 million, which is significantly above average analytical estimates of $383,5 million to See the history of quarterly revenues and profits Pinterest for the last 2 years can link.

The number of total monthly active users (MAUS) on the platform Pinterest has grown to 442 million (from 416 million in the second quarter and 322 million in the 3rd quarter of 2019), exceeding analyst estimates in 436,38 million

The majority of Pinterest users – international 343 million, however, due to the fact that the price of advertising in the U.S. on average much higher than the average international revenue per user (ARPU) in the United States is much higher: $vs a 3.85 and $1.03, respectively, revenues from the US market is higher than from international.

Average revenue per user (ARPU) Pinterest for the 3rd quarter was of $1.03, above analysts ‘ forecasts of $0,9.

Among the growth factors guide Pinterest noted the release of an updated operating system Apple (AAPL) iOS 14, which has inspired iPhone owners to use Pinterest to come up with ideas for new background filters.

Forward-looking statements Pinterest

The company said it expects revenue growth in the fourth quarter, “approximately 60%” , but noted that it “continues to overcome the uncertainty, given the pandemic COVID-19 and other factors.”

Amid a strong report Pinterest grew shares and its competitors, as investors saw the company’s revenue growth is another sign that the digital advertising industry returned to levels that existed before COVID-19.

After the close of trading on Wednesday, shares of Twitter (TWTR) rose more than 5%, and Facebook and Snap increased by more than 2%.

Quarterly reports Facebook, Google (GOOGL, GOOG) and Twitter is expected on Thursday.

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