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Sep 30, 2021
Pinterest Q3 2021 Earnings Report
Pinterest's Q3 2021 performance reflected revenue growth driven by retail advertisers and international expansion, offset by user engagement headwinds and CPG sector weakness.
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.
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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