Benjamin “Ben'” Silbermann, co-founder and chief executive officer of Pinterest.
Patrick T. Fallon | Bloomberg | Getty Images
Pinterest on Thursday reported better-than-expected earnings and revenue for the third quarter despite a decline in monthly users.
The company’s stock price was up more than 7% in extended trading after closing on Thursday at its lowest in over a year.
Here are the key numbers:
Adjusted earnings per share: 28 cents vs. 23 cents expected by RefinitivRevenue: $633 million vs. $630.9 million expected by RefinitivMonthly active users: 444 million vs. 460 million expected by StreetAccountAverage revenue per user: $1.41 vs. $1.38 forecast by StreetAccount
Pinterest said monthly active users fell 2% from the 454 million the company reported in July. This was the second quarter in a row that Pinterest saw a decline in monthly users.
The company said that, as of Nov. 2, its U.S. MAUs were approximately 89 million while global MAUs were 447 million. Those numbers are down 9% and 2.6%, respectively, from the fourth quarter.
Revenue climbed almost 43% from a year earlier. Pinterest also posted a net income of $94 million, even with its profit from a year ago.
Pinterest provided a fourth-quarter revenue growth estimate “in the high teens” on a year-to-year basis. That was below Refinitiv expectations of 23.9% growth.