Pinterest reported better-than-expected earnings and revenue for the quarter, while monthly active users (MAUs) fell for the second quarter in a row. The platform reported its third-quarter revenue grew 43 percent year-over-year to $633 million. (Adweek)
Pinterest said MAUs fell 2 percent from the 454 million the company reported in July. The company said that, as of Nov. 2, its U.S. MAUs were approximately 89 million. Global MAUs totaled 447 million. Those numbers are down 9 percent and 2.6 percent, respectively, from the fourth quarter of 2020. (CNBC)
“Looking beyond the Covid-19-driven volatility, our current view on the long-term opportunity to grow our user base, both in the U.S. and globally, remains unchanged from what it was before the pandemic,” executives wrote in a letter to shareholders. (Barron’s)