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Mar 31, 2024
Pinterest Q1 2024 Earnings Report
Pinterest's Q1 2024 earnings showcased significant growth, marked by surpassing half a billion monthly active users and accelerating revenue growth.
Key Takeaways
Pinterest announced strong Q1 2024 results, with revenue growing 23% year-over-year to $740 million and global monthly active users increasing 12% to 518 million. The company reported a GAAP net loss of $25 million, while adjusted EBITDA reached $113 million.
Q1 revenue grew 23% year over year to $740 million.
Global Monthly Active Users (MAUs) increased 12% year over year to 518 million.
GAAP net loss was $25 million for Q1.
Adjusted EBITDA was $113 million for Q1.
Pinterest
Pinterest
Pinterest Revenue by Geographic Location
Revenue by Geographic Location
U.S. and Canada Revenue
CapyFin.comEurope Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
For Q2 2024, Pinterest expects revenue to be in the range of $835 million to $850 million, representing 18-20% growth year over year. The company expects Q2 2024 Non-GAAP operating expenses to be in the range of $490 million to $505 million, representing 11-15% growth year over year.
Positive Outlook
- Revenue expected to be in the range of $835 million to $850 million.
- Revenue growth of 18-20% year over year is anticipated.
- Continued investments in AI and shoppability are expected to drive returns for advertisers.
- New products and experiences are being shipped to meet user demand.
- Focus on product market fit is expected to yield positive results.
Challenges Ahead
- Non-GAAP operating expenses are expected to be in the range of $490 million to $505 million.
- Operating expense growth of 11-15% year over year is anticipated.
- Uncertainty regarding reconciling items such as share-based compensation expense may impact GAAP results.
- Material changes to reconciling items could have a significant effect on future GAAP results.
- Reconciliations provided would imply a degree of precision that could be confusing or misleading to investors.
Revenue & Expenses
Visualization of income flow from segment revenue to net income