Image search services provider Pinterest, Inc. (NYSE: PINS) has reported a sharp increase in revenues and adjusted earnings for the third quarter of 2024.
Total revenues increased 18% year-over-year to $898.4 million in the September quarter when the top line grew across all geographical regions.
Net profit, adjusted for special items, moved up to $0.40 per share in Q3 from $0.28 per share last year. On an unadjusted basis, net income was $30.6 million or $0.04 per share in the third quarter, compared to $6.73 million or $0.01 per share in the comparable period of 2023.
“Our AI investments are driving results by powering better-personalized experiences and greater performance for advertisers, with our lower-funnel ad tools being the fastest-growing part of our business,” said Bill Ready, CEO of Pinterest.
