Pinterest (NYSE: PINS) reported better-than-expected revenue for the first quarter of 2019 but earnings missed estimates, sending shares tumbling over 15% in after-market hours on Thursday. The consensus estimate was for a loss of $0.15 per share on revenue of $200 million.
Revenues grew 54% year-over-year to $202 million, surpassing $200 million for the second consecutive quarter.
GAAP net loss was $41.4 million, or $0.33 per share, compared to $52.7 million, or $0.42 per share, in the prior-year period. Adjusted net loss was $40.3 million, or $0.32 per share.
CFO Todd Morgenfeld said, “We were particularly encouraged by the strength we saw in U.S. revenue and international user growth. Our strong revenue performance allowed us to expand net margin by 20 percentage points year-over-year, reflecting our continued prioritization and disciplined execution across our strategic priorities.”
During the quarter, revenue grew 51% to $187 million in the US while international revenues more than doubled to $15 million versus the year-ago period.
Related: Pinterest Q1 2019 Earnings Conference Call Transcript
Total monthly active users (MAUs) increased 22% year-over-year to 291 million. The number of users in the US grew 6% to 85 million while the number of international users jumped 29% to 206 million.
Average revenue per user (ARPU) increased 26% to $0.73 worldwide. The majority of revenue came from the US with ARPU increasing 41% to $2.25. International ARPU grew 59% to $0.08.
For the full year of 2019, total revenue is expected to be $1.05 billion to $1.08 billion.
This is the company’s first earnings announcement since its IPO last month.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
Accenture (ACN) to report Q2 2025 results Thursday. Here’s what to expect
Accenture plc, (NYSE: ACN) is preparing to publish its second-quarter results this week, amid expectations for a year-over-year increase in revenue and profit. The professional services company had a strong
What to expect when Dollar Tree (DLTR) reports Q4 2024 earnings results
Shares of Dollar Tree, Inc. (NASDAQ: DLTR) gained over 1% on Monday. The stock has dropped 6% over the past three months. The discount store chain is scheduled to report
MU Earnings Preview: Strong Q2 results in cards amid growing AI demand
Micron Technology, Inc. (NASDAQ: MU) is uniquely positioned to capitalize on the AI wave sweeping the tech industry, leveraging its high-bandwidth-memory products designed for massive data processing tasks. The company
