Pinterest's fourth-quarter results far exceeded expectations with $706 million in revenue

Recently, financial reports have been released in large numbers. Pinterest also released its financial report for the fourth quarter of 2020 yesterday. Its performance exceeded expectations and its user growth was also very strong.

Here are some key stats about Pinterest:

Earnings per share : 43 cents ( Refinitiv expected 32 cents )

Revenue : $706 million ( Refinitiv expected $ 645.6 million )

Monthly active users : 459 million ( FactSet expected 449.4 million )

Average revenue per user : $1.57 ( FactSet estimate : $1.44 )

In terms of user numbers , Pinterest had 335 million monthly active users in the fourth quarter of 2019 and 459 million in the fourth quarter of this year. Ben Silberman, CEO and co-founder of Pinterest, said in a statement: "In 2020, Pinterest's monthly active users grew by more than 100 million, which is unprecedented."

Among them, Pinterest said its monthly active users in the United States increased by 11% year-on-year to 98 million; its user base in international regions also continued to grow rapidly, increasing by 46% to 361 million.

In terms of regional revenue , Pinterest's total revenue in the United States increased by 67% year-on-year to US$582 million; its international revenue increased by 145% year-on-year to US$123 million.

Pinterest's stock rose more than 10% in after-hours trading after the results were announced . The company said in a letter to investors that people were staying at home due to the epidemic and turned to Pinterest to meet their entertainment needs.

Pinterest said its revenue growth was driven primarily by a long holiday season and improved ad products, adding that its shopping ad revenue grew faster than its overall business and the number of businesses using its shopping ad format grew sixfold .

Pinterest said in the report: "Our investments in advertising tools and sales reach continued to pay off, especially during the holiday season. Advertising demand remained healthy across advertiser sizes and industries, and retail demand further strengthened the recovery from last quarter."

Given its strong momentum in international regions, Pinterest also plans to expand its influence in existing international markets in 2021 and expand into new regions such as Latin America in the first half of this year.

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