Of course, everyone would have been happier if Pinterest had managed to increase its monthly average user number, or even keep it flat. Shoppers will also be able to search for products by brand and price.įor sellers and advertisers, Pinterest extended its Verified Merchant Program to multiple regions across the globe, and its “Shop Tab” expanded has a global reach, as well. Its “Shopping List” feature will allow users to save Product Pins in one place, and will let users know if price tags are reduced. The continued steps that Pinterest is taking to improve its platform are huge. It doesn’t get any easier for a consumer, and that’s really appealing to an advertiser. They find something they like and they can just click on it to buy it. People go there to look for decorating ideas, for instance. I’ve written before about how Pinterest’s platform is considered an “advertiser’s dream” because of its functionality. Wall Street had been expecting $561.88 million in revenue and adjusted EPS of 13 cents. The company posted $613 million revenue and and adjusted earnings-per-share of 25 cents. It’s no wonder that people are spending less time on Pinterest and more time out in the physical world.Īnd even with those facts, Pinterest managed to beat analysts’ expectations in the second quarter for revenue and earnings. The Delta variant is causing some areas to reinstitute mask mandates indoors, but businesses are steadily marching on to a full in-office reopening. The company saw gains of more than 200% in 2020 as people were pretty much stuck with streaming services, gaming and the internet for most types of entertainment. That’s when the engine really started moving for Pinterest stock. Businesses were closed, people were either laid off or working from home and kids were attending virtual school. in the second quarter of 2020? That was the beginning of the Covid-19 lockdown. Obviously, that’s not the news that investors wanted to hear, but it’s also important to put things in perspective. We’ve already heard news about monthly active users, which were down about 7% in the second quarter from a year ago. Now it’s valued at more than $37 billion. Founded in 2010, Pinterest went public in 2019 with a market capitalization of roughly $11 billion. “Whether it’s recipe ideas during the pandemic or dream vacation planning for the future, I’m proud that we now help 478 million people every month find inspiration to create a life they love,” Pinterest co-founder and CEO Ben Silbermann said.Īnd the company has been growing by leaps and bounds. Sometimes that means recipes, fashion, interesting photos, animated GIFs or videos. The San Francisco-based social media platform is a place where people can create online pinboard to post and share items of their interest. When it comes to social media companies, Pinterest is delightfully tame. You won’t see Pinterest disparaged for being used as a platform for predators, or as a place where people are unmercifully bullied. You’ll never see the CEO of Pinterest being hauled before Congress to talk about why its banning or not banning people who express or don’t express a specific political viewpoint. Pinterest is an interesting social media company because its not controversial.
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