First quarter results better than analysts’ estimates were announced by the social networking company Pinterest despite the difficult environment for online advertising, with the company even showing an increase in users for the first time in the last year.
More specifically, Pinterest reported losses of $ 5.3 million, or 1 cent per share, for the first quarter of the year, with sales of $ 574.9 million, compared to $ 485 million in the same period last year.
Adjusted earnings per share of the company amounted to 10 cents, compared to 11 cents per share in the first quarter of the previous year, but better than analysts’ estimates.
Meanwhile, in the first three months of the year, the company showed an increase in its monthly active users to 433 million, after three consecutive quarters of loss of users, compared to 431 million at the end of 2021. Analysts expected a larger increase in 437.9 million users, however, the fact that the company managed to increase its user base after 9 months is still considered positive.
For the second quarter of the year, the company announced that it expects revenue growth of 11%, to $ 680 million, slightly lower than the $ 693 million analysts expect, according to FactSet.
Source: Capital
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