Pinterest Q2 earnings report: Refocus on e-commerce business

The company’s press release showed that it was still able to achieve revenue growth despite experiencing a 5% loss in monthly active users for three consecutive months as of July 30 .

Pinterest CEO Ready said: "Despite the uncertainty of the overall environment, Pinterest still achieved a 9% year-on-year revenue growth in the second quarter of this year. We increased investment in shopping and e-commerce departments this quarter, and I am very pleased to see the efforts made by leaders and employees in various departments."

Ready added: “Pinterest is unique in the industry and we are committed to helping businesses turn their ideas into reality by leveraging the long-term trend of e-commerce.”

Pinterest said it expects single-digit growth in the third quarter, factoring in foreign exchange risk due to a stronger dollar.

The company has recently been focusing more on its e-commerce business, launching a range of features and widgets to serve merchants.

These tools and new features are designed to make shopping as convenient as possible without changing the original attributes of the platform.

Jeremy King, Pinterest senior vice president and head of development, said the features were already in the works before Ready, a former Google executive, joined the company.

“We needed a catalog that was standardized — we spent three years building that catalog, and now we have hundreds of millions of products from Etsy, WayFair, Walmart, and Amazon that can be converted through our platform,” King said. “We set a great benchmark for the shopping ecosystem.”

Pinterest

E-commerce

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