Welcome to our dedicated page for Pinterest news (Ticker: PINS), a resource for investors and traders seeking the latest updates and insights on Pinterest stock.
Pinterest, Inc. operates a visual search and discovery platform where people find inspiration, curate ideas and shop products. The company generates revenue primarily through digital advertising on its platform, with news regularly covering operating results, global monthly active users, average revenue per user, advertising monetization and product innovation.
Company updates also address Pinterest's AI-powered visual search and shopping experiences, performance advertising initiatives, share repurchases and other capital actions, and governance developments such as board appointments and executive leadership disclosures.
Pinterest reported a strong Q3 2020, with revenue increasing 58% year-over-year to $443 million and Global Monthly Active Users (MAUs) rising 37% to 442 million. Despite a GAAP net loss of $(94 million), non-GAAP net income soared by 1,362% to $87 million, and adjusted EBITDA jumped to $93 million. The company anticipates around 60% revenue growth for Q4. CEO Ben Silbermann emphasized the importance of inspiring content and creator tools, while CFO Todd Morgenfeld noted recovering advertiser demand and successful international expansion.
Pinterest has appointed Salaam Coleman Smith to its Board of Directors, effective October 31, 2020. Smith, who has a notable background at Disney and Comcast NBCUniversal, is expected to enhance Pinterest's content strategy. This follows the recent appointments of Andrea Wishom and Aya Kanai, signaling a commitment to high-quality content that resonates globally. CEO Ben Silbermann expressed excitement over Smith's unique perspective, which aims to empower creators on the platform. Smith's experience in media is anticipated to contribute to Pinterest's growth and long-term vision.
Pinterest, Inc. (NYSE: PINS) is set to release its financial results for Q3 2020 on October 28, 2020, after market close. A Q&A conference call will follow at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results. Investors can access the earnings release and live webcast through the company's Investor Relations website. Pinterest utilizes this platform for disclosing material nonpublic information and encourages investors to stay updated via press releases and SEC filings. The company, founded in 2010, serves as a visual discovery engine, boasting over 240 billion saved Pins.