Pinterest Revenue Soars 125% in Q2, but User Growth Falls Short of Expectations

The platform had 454 million global monthly active users as of June 30

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Pinterest’s revenue more than doubled year-over-year in the second quarter, reaching $613.2 million, up 125% from $272.5 million in the same period of 2020.

The company credited the easing of pandemic restrictions globally, as well as increased adoption of its measurement solutions by large advertisers, noting that spending by mid-market and managed small advertisers also rose but contributed a smaller share of overall revenue.

Pinterest said in its letter to shareholders that travel spend on its platform was particularly strong during the second quarter as Pinners began to plan vacations that were put off by Covid-19.

However, the easing of pandemic restrictions had the opposite effect on the platform’s user base.

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