Pinterest (PINS) beats Q4 revenue and earnings estimates

Pinterest Inc. (NYSE: PINS) topped revenue and earnings expectations for the fourth quarter of 2019, sending shares soaring over 14% in aftermarket hours on Thursday.  

Total revenues jumped 46% year-over-year to $400 million, beating estimates of $371 million.

GAAP net loss attributable to common shareholders was $35.7 million, or $0.06 per share. Adjusted net income rose 55% to $76.8 million. Adjusted EPS totaled $0.12, surpassing forecasts of $0.08.  

CFO Todd Morgenfeld said, “We are pleased with the performance of our business in Q4 and the many milestones we achieved in 2019. We scaled the business to over $1 billion in annual revenue, grew to over 300 million monthly active users and opened 21 new international advertising markets. We look forward to the opportunities ahead of us as we continue to invest in the Pinner and advertiser experience.”

Revenue in the US increased 36% year-over-year to $350 million while international revenues jumped 202% to $50 million.

Also read: Pinterest Q4 2019 Earnings Preview

Global monthly active users (MAUs) grew 26% year-over-year to 335 million. MAUs in the US rose 8% to 88 million while international MAUs climbed 35% to 247 million.

Global average revenue per user (ARPU) increased 15% to $1.22. In the US, ARPU rose 26% to $4.00 while international ARPU was up 122% to $0.21.

For full year 2020, the company expects total revenue to be up to $1.52 billion. Adjusted EBITDA margin is expected to be flat to up slightly compared to the adjusted EBITDA margin of 1% achieved in 2019.

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