Pinterest Inc (NYSE:PINS) reported financial results for the first quarter after the market close on Monday. Here’s a look at the key metrics from the quarter.
- Pinterest stock is trending today. Why are PINS shares in the spotlight?
Key Details From Q1
Pinterest posted first-quarter revenue of $1.01 billion, beating analyst estimates of $966.25 million, according to Benzinga Pro. The idea discovery platform company reported adjusted earnings of 27 cents per share, beating analyst estimates of 23 cents per share.
Total revenue was up 18% on a year-over-year basis as Pinterest’s global monthly active users increased 11% year-over-year to 631 million. Average revenue per user in the quarter was $1.61 globally and $7.12 in the U.S. and Canada.
Net cash from operations totaled $328 million in the quarter, and free cash flow came in at $312 million. The company ended the period with approximately $378.10 million in cash and cash equivalents.
“Pinterest is where online discovery leads to real-world action, and we’re seeing continued momentum driven by our differentiated visual search product experiences,” said Bill Ready, CEO of Pinterest.
“As we continue building an AI-powered ads platform that delivers performance for advertisers, we remain focused on ensuring monetization more fully reflects the strength of our engagement.”
Pinterest expects second-quarter revenue to be in the range of $1.13 billion to $1.15 billion versus estimates of $1.11 billion. The company anticipates adjusted EBITDA of $256 million to $276 million in the second quarter.
Pinterest executives will comment on the quarter and discuss the company’s guidance on an earnings call at 4:30 p.m. ET.
PINS Shares Pop After The Close
PINS Price Action: Pinterest shares were up 18.94% in after-hours Monday, trading at $24.81 at publication time, according to Benzinga Pro.
Image: Shutterstock.com
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