Ben Silbermann, co-founder and chief executive officer of Pinterest Inc., center, rings the opening bell on the floor on the New York Stock Exchange during the company’s initial public offering (IPO) in New York, on Thursday, April 18, 2019.
Michael Nagle | Bloomberg | Getty Images
Pinterest shares climbed as much as 16.7% in after-hours trading on Thursday following the company’s fourth-quarter earnings report. The company beat on both the top and bottom lines for the quarter.
Here are the key numbers:
- Earnings per share: 12 cents, excluding some items, vs. 8 cents forecast by Refinitiv
- Revenue: $400 million, vs. $371 million expected per Refinitiv
- Monthly active users: 335 million, vs. 331.3 million forecast by FactSet
- Average revenue per user: $1.22, vs. $1.14 forecast by FactSet
Pinterest’s 2020 full-year outlook also exceeded analysts’ expectations. For the year, Pinterest said it expects revenue to come in at up to $1.52 billion, compared with consensus estimates of $1.5 billion.
The results show that Pinterest’s recent adjustments to the app seem to be paying off. Last quarter, Pinterest said it redesigned the app to make it easier for users to discover new ideas.
CEO Ben Silbermann said the company continued to improve the “foundation of the Pinterest app” in the fourth quarter by strengthening recommendations and the shopping experience, as well as speeding up the performance of the platform. In 2020, Pinterest intends to focus on “delivering relevant content, ads and shopping experiences,” he added.
Pinterest said global monthly active users, or MAUs, rose 26% year over year to 335 million. International MAUs climbed 35% to 247 million, while U.S. MAUs increased 8% to 88 million. In recent months, the company has focused on expanding in Europe, after adding six new markets in 2019.