Pinterest Q3 2021 Earnings Report
Key Takeaways
Pinterest's Q3 2021 showed a 43% year-over-year revenue increase to $633 million, driven by retail advertisers and international growth, but was impacted by engagement headwinds and weakness in the CPG sector. Global MAUs grew 1% to 444 million. GAAP net income was $94 million, representing 15% of revenue.
Q3 revenue increased by 43% year-over-year, reaching $633 million, fueled by large retail advertisers and international growth.
Global MAUs experienced a 1% year-over-year growth, totaling 444 million, influenced by engagement headwinds as pandemic restrictions eased.
GAAP net income for Q3 was $94 million, which is 15% of the revenue.
Adjusted EBITDA for Q3 was $201 million, representing 32% of revenue.
Pinterest
Pinterest
Pinterest Revenue by Geographic Location
Forward Guidance
Q4 revenue is expected to grow in the high teens percentage range year over year. Non-GAAP operating expenses are expected to grow in the low teens quarter over quarter.
Positive Outlook
- Continued investment in native content/Creator ecosystem.
- Ongoing investment in brand marketing campaign.
- Focus on Pinner product investments.
- Focus on ad product investments.
- Focus on measurement investments.
Challenges Ahead
- The evolution of COVID-19 and the impact of the pandemic unwind on engagement remain unknown.
- Results, trends and outlook for the Q4 2021 period to date are preliminary, subject to change, and may not be an indication of future performance.
- Continued investment in headcount to fund strategic initiatives.
- Uncertainty regarding user engagement levels.
- Potential impact of COVID-19 variants.
Revenue & Expenses
Visualization of income flow from segment revenue to net income