MW Pinterest's stock is soaring, as platform gets more users and hits its first $1 billion sales quarter

By Claudia Assis

Pinterest's stock rallies more than 20% after hours

Shares of Pinterest Inc. surged more than 20% in the extended session Thursday after the photo-sharing platform reported better-than-expected quarterly user growth and sales that topped $1 billion, fueling hopes that its business is on better footing.

Pinterest $(PINS)$ hit fourth-quarter sales of $1.15 billion, coming in above $1 billion for the first time, and grew the number of its global monthly active users by 11% year-on-year to 553 million. It also guided for better-than-expected revenue in the current quarter.

"People are coming to Pinterest more often, the platform has never been more actionable, and our lower funnel focus is driving results for users and advertisers," Chief Executive Bill Ready said in a statement. "2024 was a banner year for Pinterest."

FactSet consensus for global monthly active users was around 547 million people. The company said that average revenue per user rose 6%, including a 12% rise in the U.S. and Canada. Pinterest has focused on its shopping platform in recent years.

The company said it expects first-quarter revenue between $837 million and $852 million, which would be 13% to 15% growth year over year. That compares with FactSet consensus for $836 million in sales in the first quarter.

Investors looked past an earnings miss for the company: Pinterest reported adjusted per-share earnings of 56 cents a share, below Wall Street's consensus for adjusted EPS of 64 cents.

-Claudia Assis

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

February 06, 2025 16:45 ET (21:45 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.