Pinterest Q2 2021 Earnings Report
Key Takeaways
Pinterest's Q2 2021 saw a 125% year-over-year revenue increase to $613 million, driven by strong advertiser demand and international growth. Monthly Active Users (MAUs) grew 9% to 454 million, which was slower than expected due to the easing of pandemic restrictions. The company reported a GAAP net income of $69 million, or 11% of revenue.
Revenue grew 125% year-over-year to $613 million, driven by increased demand from large retail advertisers and international business growth.
Monthly Active Users (MAUs) increased 9% year-over-year to 454 million, but growth was slower than expected due to easing pandemic restrictions.
GAAP net income was $69 million, representing 11% of revenue.
Adjusted EBITDA was $178 million, or 29% of revenue.
Pinterest
Pinterest
Pinterest Revenue by Geographic Location
Forward Guidance
Pinterest expects Q3 revenue to grow in the low-40% range year-over-year. They anticipate a modest increase in Q3 operating expenses as they continue to invest in long-term strategic priorities.
Positive Outlook
- Q3 revenue is expected to grow in the low-40% range year-over-year.
- Continued investment in long-term strategic priorities.
- Plans to resume brand marketing campaign in early Q4.
- Focus on Pinner product, ad product, and measurement investments.
- Further headcount growth to support international expansion efforts.
Challenges Ahead
- Engagement headwinds have continued in July.
- U.S. MAUs have declined approximately 7% year-over-year as of July 27, 2021.
- Global MAUs have grown approximately 5% year-over-year as of July 27, 2021.
- Uncertainty remains due to the ongoing COVID-19 pandemic and related restrictions.
- No guidance provided on Q3 2021 MAUs due to lack of visibility into key drivers of engagement.
Revenue & Expenses
Visualization of income flow from segment revenue to net income