Investorideas.com

Get great ideas from our AI, cannabis, cleantech, crypto, esports and mining podcasts - be a guest or sponsor : 800 665 0411


Share on StockTwits

Pinterest Shares Attract Investors' Interest as Firm Posts 39% Increase in Active Users

Source: Streetwise Reports

 

August 3, 2020 (Investorideas.com Newswire) Pinterest shares traded 33% higher after the company reported Q2/20 financial results that included a 4% growth in YoY revenue and a 39% growth in Global Monthly Active Users to over 416 million.


Pinterest Inc. (PINS:NYSE) today announced financial results for its second-quarter ended June 30, 2020.

The company reported that in Q2/20 global revenue increased by 4% to $272 million, compared to $261 million in Q2/19. Over the same corresponding period, the company reported a much improved GAAP net loss of $101 million and adjusted EBITDA loss of $34 million, compared with GAAP net loss of $1,159.5 million and adjusted EBITDA loss of $26 million in Q2/19.

The firm highlighted that in Q2/20 Global Monthly Active Users (MAUs) grew 39% year over year to 416 million. The company stated that U.S. MAUs increased by 11 million to 96 million, or by 13%, while the bulk of the growth was achieved in international MAUs, which increased by 106 million to 321 million, representing a 49% YoY increase.

The company's CEO and co-founder Ben Silbermann commented, "This quarter we reached a milestone—more than 400 million people now come to Pinterest every month to get and stay inspired...In these tough times, we're seeing more and more people rely on Pinterest to cook at home, plan kids activities and set up a home office. Businesses are helping them turn their ideas into reality as people are increasingly discovering and buying products on Pinterest."

Pinterest's CFO and Head of Business Operations Todd Morgenfeld added, "By all accounts, this was a challenging quarter as COVID-19 continued to spread. I'm pleased with the way we responded and remained engaged with our advertising partners...It has been encouraging to see the recovery in our business over the past few months, but there is still a tremendous amount of uncertainty and work to be done."

The company stated that due to the ongoing uncertainties related to the COVID-19 pandemic and current macroeconomic conditions it is not providing forward guidance for FY/20 revenue or adjusted EBITDA.

The firm did provide some estimates on a preliminary basis and stated that year-over-year revenue growth for the month of July through July 29th to be about 50%.

The company advised that it expects Q3/20 revenue will grow in the mid-30% range year over year. The firm indicated that it in order to be prudent it will closely monitor its spending levels as the market environment dictates, but will continue to invest in the long-term growth of the company. Pinterest noted that it is staying true to its priorities of content, ads diversification, use case expansion and shopping.

Pinterest is headquartered in San Francisco, Calif., and describes its business as a visual discovery engine platform. The firm states that people use Pinterest to look for and find inspiration for their lives including home and style ideas, recipes and travel destinations. The company's users have reportedly saved more than 240 billion "Pins" across a wide range of interests that are discoverable by others with similar tastes via recommendations and searches.

Pinterest began the day with a market capitalization of around $14.8 billion with approximately 586.5 million shares outstanding and a short interest of about 4.8%. PINS shares opened 33% higher today at $33.56 (+$8.37, +33.23%) over yesterday's $25.19 closing price. The stock has traded today between $31.00 and $34.50 per share and is currently trading at $33.51 (+$8.36, +32.99%).

Disclosure:

1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp


Follow Us on StockTwits







Tech Stocks - Tech Stocks Directory, Tech Stocks News, Research and Resources

Get more Technology stock investor ideas - news, articles, podcasts and stock directories