Pinterest Inc - Ordinary Shares (PINS) Q2 Earnings call transcript Jul 30, 2024

In Pinterest's second quarter 2024 earnings call, the company showcased strong performance and strategic initiatives aimed at driving growth and enhancing user engagement. Pinterest's CEO, Bill Ready, and CFO, Julia Donnelly, highlighted key achievements and discussed future plans.

Global MAUs Reach Record High

Pinterest reported a record high of 522 million global monthly active users (MAUs), representing a 12% year-over-year growth. The company's user base continues to expand across all geographic regions and age cohorts, reflecting the effectiveness of its strategic initiatives.

Revenue and Monetization

Pinterest's revenue for the quarter reached $854 million, up 21% year-over-year. The company's investments in becoming a full-funnel platform, particularly in lower-funnel offerings, are paying off with increased clicks and conversions. Adjusted EBITDA reached $180 million, marking a 21% margin and a significant improvement compared to the previous year.

User Engagement and Product Innovation

Pinterest's focus on user engagement and product innovation is evident in the enhancements to its platform. The company has been working to improve content discovery, curation, and actionability, which has led to increased user engagement and deeper penetration of its mobile app users. The introduction of new features like Board Sharing and Collages has been well-received by users and advertisers, demonstrating Pinterest's commitment to meeting user needs and driving growth.

Looking Ahead

Pinterest's guidance for the third quarter of 2024 indicates continued growth, with revenue expected to be in the range of $885 million to $900 million, representing a 16% to 18% year-over-year increase. The company's strategic initiatives, including its lower-funnel offerings and third-party demand partnerships, are expected to contribute to this growth. Pinterest's focus on improving monetization, driving user engagement, and expanding its global reach sets the stage for continued success in the future.