Pinterest Inc (NYSE:PINS) reported first-quarter earnings after the close last night, beating estimates with adjusted earnings of 20 per share on revenue of $740 million. The image-sharing social media firm also issued a second-quarter revenue forecast that was higher than expectations. In response, PINS is up 17.6% to trade at $39.35, on track for its biggest single-session gain since the post-earnings pop on Oct 31.Options traders are piling on following the report. So far, 30,000 bullish bets have been e ...

The Internet Software and Services space is gathering momentum owing to robust IT spending on solutions that support hybrid operating environments. The level of technology adoption by businesses and the proliferation of connected consumer devices, which might help people connect and do business online, is also accelerating the industry’s growth. Outstanding penetration of mobile devices among users, makes sense for businesses to invest heavily in web-based infrastructure, applications, and security software ...

Pinterest (PINS) came out with quarterly earnings of $0.20 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 42.86%. A quarter ago, it was expected that this digital pinboard and shopping tool company would post earnings of $0.51 per share when it actually produced earnings of $0.53, delivering a surprise of 3.92%.Over the last ...

Pinterest (PINS) reported $739.98 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 22.8%. EPS of $0.20 for the same period compares to $0.08 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $699.96 million, representing a surprise of +5.72%. The company delivered an EPS surprise of +42.86%, with the consensus EPS estimate being $0.14.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

As consumers seek more frictionless eCommerce experiences, Pinterest is seeing user demand for shoppable features, as long as the purchasing journey is simple and intuitive. The social media company shared Tuesday (April 30) in its first quarter fiscal 2024 earnings report that revenue was up 23% year over year in the period, attributing this increase to, among other things, investing in making the platform more shoppable. “We’ve made it easier and more seamless to shop content on Pinterest, a top priority ...

Q1 2024 Earnings Report For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the Appendix. 2 +22% US & Canada Y/Y Note: Revenue is geographically apportioned based on our estimate of the geographic location of our users when they perform a revenue-generating activity. Geographic breakdown may not sum to Global due to rounding; quarterly amounts may not sum to annual due to rounding. To supplement our condensed consolidated financial st ...

Shares of Pinterest popped 16% in extended trading Tuesday after the company reported first-quarter results that beat analysts' estimates and showed its fastest revenue growth since 2021.Here's how the company did, compared to LSEG analyst expectations:Earnings per share: 20 cents adjusted vs. 13 cents expectedRevenue: $740 million vs. $700 million expectedRevenue for the quarter jumped 23% from $602.6 million a year earlier. Pinterest's net loss for the first quarter narrowed to $24.8 million, or a 4 cent ...

[Part I - Financial Information](index=8&type=section&id=Part%20I%20-%20Financial%20Information) [Item 1. Financial Statements (Unaudited)](index=8&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents Pinterest's unaudited condensed consolidated financial statements for Q1 2024, detailing key financial positions and performance metrics [Condensed Consolidated Balance Sheets](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Pinterest's balance sheet as of March 31, 2024, reflects growth in total assets, primarily driven by increased cash and cash equivalents Condensed Consolidated Balance Sheet Highlights (as of March 31, 2024, in millions) | Balance Sheet Item | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Total Current Assets** | $3,413.8 | $3,338.6 | | Cash and cash equivalents | $1,632.1 | $1,361.9 | | **Total Assets** | **$3,666.7** | **$3,594.4** | | **Total Current Liabilities** | $339.9 | $317.1 | | **Total Liabilities** | **$522.9** | **$503.7** | | **Total Stockholders' Equity** | **$3,143.8** | **$3,090.7** | [Condensed Consolidated Statements of Operations](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Pinterest's Q1 2024 operations show revenue growth and a significantly narrowed net loss, reflecting improved operational efficiency Condensed Consolidated Statements of Operations (Three Months Ended March 31, in millions) | Income Statement Item | 2024 | 2023 | YoY Change | | :--- | :--- | :--- | :--- | | **Revenue** | **$740.0** | **$602.6** | **+23%** | | Total costs and expenses | $794.4 | $846.3 | -6% | | Loss from operations | $(54.4) | $(243.7) | +78% | | **Net loss** | **$(24.8)** | **$(208.6)** | **+88%** | | Net loss per share, basic and diluted | $(0.04) | $(0.31) | +87% | [Condensed Consolidated Statements of Cash Flows](index=12&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Q1 2024 saw a significant increase in net cash provided by operating activities, primarily due to a smaller net loss Condensed Consolidated Statements of Cash Flows Highlights (Three Months Ended March 31, in millions) | Cash Flow Item | 2024 | 2023 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | **$356.1** | **$183.5** | | Net cash (used in) provided by investing activities | $(3.1) | $14.2 | | **Net cash used in financing activities** | **$(83.0)** | **$(158.6)** | | Net increase in cash, cash equivalents and restricted cash | $269.4 | $40.2 | [Notes to Condensed Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes detail significant accounting policies, contractual commitments, stock repurchase programs, and geographical revenue breakdowns - The company has a contractual commitment to purchase at least **$3.25 billion** of cloud services from AWS through April 2029, with a remaining commitment of **$1.6 billion** as of March 31, 2024[50](index=50&type=chunk) - A stock repurchase program of up to **$1.0 billion** of Class A common stock was authorized in September 2023, with the full **$1.0 billion** remaining available for repurchases as of March 31, 2024[60](index=60&type=chunk) Revenue by Geography (Three Months Ended March 31, in millions) | Geography | 2024 | 2023 | YoY Change | | :--- | :--- | :--- | :--- | | U.S. and Canada | $546.6 | $471.8 | +16% | | Europe | $124.0 | $97.4 | +27% | | Rest of World | $69.4 | $33.4 | +108% | | **Total revenue** | **$740.0** | **$602.6** | **+23%** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong Q1 2024 performance to user base growth and monetization, with revenue increasing 23% and net loss significantly narrowing Q1 2024 Key Financial and Operating Results | Metric | Q1 2024 | YoY Change | | :--- | :--- | :--- | | Revenue | $740.0 million | +23% | | Monthly Active Users (MAUs) | 518 million | +12% | | Net Loss | $(24.8) million | Improved from $(208.6) million | | Adjusted EBITDA | $112.9 million | +319% | - Revenue growth was primarily driven by a **12% increase in MAUs** and a **10% increase in ARPU**; the number of advertisements served increased by **38%**, while the price of advertisements decreased by **11%** compared to Q1 2023[96](index=96&type=chunk) Quarterly Average Revenue per User (ARPU) (For the three months ended March 31) | Geography | Q1 2024 ARPU | YoY Change | | :--- | :--- | :--- | | Global | $1.46 | +10% | | U.S. and Canada | $6.05 | +19% | | Europe | $0.86 | +17% | | Rest of World | $0.11 | +8% | - The company maintains a strong liquidity position with **$2.78 billion** in cash, cash equivalents, and marketable securities as of March 31, 2024, and has access to a **$500.0 million** revolving credit facility[106](index=106&type=chunk)[108](index=108&type=chunk) [Quantitative and Qualitative Disclosure About Market Risk](index=32&type=section&id=Quantitative%20and%20Qualitative%20Disclosure%20About%20Market%20Risk) The company is exposed to market risks, primarily foreign currency exchange rates and interest rates, which could impact its financial performance - The company's primary market risks are foreign currency exchange risk and interest rate risk[125](index=125&type=chunk) - A hypothetical **100 basis point (1%) increase** in interest rates would decrease the market value of the company's cash equivalents and marketable securities by **$6.8 million** as of March 31, 2024[127](index=127&type=chunk) [Controls and Procedures](index=33&type=section&id=Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2024, with no material changes in internal control over financial reporting - The CEO and CFO concluded that as of March 31, 2024, the company's disclosure controls and procedures are effective[128](index=128&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, internal controls[129](index=129&type=chunk) [Part II - Other Information](index=34&type=section&id=Part%20II%20-%20Other%20Information) [Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) Pinterest is involved in various legal proceedings, but does not expect them to have a material adverse effect on its business or financial results - The company is involved in various legal proceedings arising in the ordinary course of business but does not expect them to have a material adverse effect on its financial results[131](index=131&type=chunk)[133](index=133&type=chunk) [Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) This section details numerous risks, including reliance on advertising revenue, intense competition, data privacy regulations, and dependence on third-party platforms - Substantially all revenue is generated from advertising, making the business vulnerable to the loss of advertisers or reductions in their spending[136](index=136&type=chunk) - The business faces significant competition for users and advertising revenue from large, established companies such as Amazon, Meta (Instagram), Google (YouTube), Snap, and TikTok[155](index=155&type=chunk)[156](index=156&type=chunk) - The business is subject to complex and evolving data privacy laws like GDPR and CCPA, which could impact the ability to deliver targeted advertising and lead to significant penalties for non-compliance[194](index=194&type=chunk)[195](index=195&type=chunk) - The dual-class stock structure concentrates approximately **73.7%** of voting power with holders of Class B common stock, limiting the influence of Class A stockholders on corporate matters[269](index=269&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=64&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's equity security repurchases during Q1 2024, primarily to satisfy tax withholding obligations for employee restricted stock awards Issuer Purchases of Equity Securities (Q1 2024) | Period | Total Shares Purchased | Average Price Paid per Share ($) | | :--- | :--- | :--- | | Jan 2024 | 25,776 | 37.10 | | Feb 2024 | 18,450 | 35.11 | | Mar 2024 | 78,207 | 34.29 | | **Total** | **122,433** | **N/A** | - Shares were withheld from employees to satisfy tax withholding obligations on the release of restricted stock awards[288](index=288&type=chunk)

Exhibit 99.1 Pinterest Announces First Quarter 2024 Results, Reports 23% Revenue Growth and More Than Half A Billion Monthly Active Users Q1 Revenue of $740 million, an increase of 23%, nearly doubling growth rate from prior quarter Record 518 million global monthly active users, an increase of 12% SAN FRANCISCO, Calif. - April 30, 2024 - Pinterest, Inc. (NYSE: PINS) today announced financial results for the quarter ended March 31, 2024. "Q1 was a milestone quarter for Pinterest as we reached new highs: sur ...

Pinterest, Inc. (PINS) is scheduled to report first-quarter 2024 results on Apr 30, after the closing bell. The company pulled off a trailing four-quarter earnings surprise of 37.42%, on average. In the last reported quarter, it reported an earnings surprise of 3.92%.The company is expected to witness a top line expansion year over year, driven by growing demand for its comprehensive set of ad tools, increasing user engagement on the platform. Management’s initiative to increase shoppable content and effort ...