Loss Narrows
The visual search engine reported an adjusted loss of $0.06 per share for the second quarter, narrower than last year’s loss of $0.27 per share. Analysts had forecast a wider loss for the most recent quarter. Unadjusted net loss was $1.16 billion or $2.62 per share, compared to $38.4 million or $0.30 per share in the second quarter of 2018.
“We constantly aim to make Pinterest more personal, relevant and useful to our users. Our MAUs hit 300 million at the end of Q2 as we built and expanded products to support this vision, “ said Ben Silbermann, CEO of Pinterest.
Double-digit Growth
The average revenue per user (ARPU) increased by 29% to $0.88, worldwide. In the US, ARPU gained 41%, while it more than doubled in the international market.
Guidance
Encouraged by the positive results, the management revised up its full-year revenue guidance to the range of $1.095 billion to $1.115 billion from the previous outlook of $1.055-$1.080 billion. Adjusted EBITDA is currently expected to be between $(50) million and $(25) million.
The performance of Pinterest at the stock market has been positive since the Wall Street debut and the shares are currently trading above the IPO price. The stock, which hit an all-time high of around $34 days after the IPO, gained 14% since the beginning of the year. It gained sharply Thursday evening, after closing the regular session lower