Pinterest Q1 2024 Earnings Report
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
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