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Pinterest reported better-than-expected earnings and revenue for the quarter, while monthly active users fell for the second quarter in a row.
Top line
The platform reported its third-quarter revenue grew 43% year-over-year to $633 million. The company’s stock rose 6% in extended trading after closing but has since stabilized.
Pinterest said that, as of Nov. 2, its U.S. MAUs were approximately 89 million. Global MAUs totalled 447 million. These are down 9% and 2.6%, respectively, from the fourth quarter of 2020.
Between the lines
Revenue is up because the platform is generating higher revenue per user, thanks to investing in the Pinner experience, advertiser success and shopping.
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