Pinterest second quarter results fall short of expectations

Monthly user figures grow as men and Gen Z look for social network alternatives

Trade

Pinterest missed analysts’ profit expectations for the second quarter on Thursday, despite strong growth in revenue and user numbers. As a result, the share price dropped by more than 11% in after-hours trading. Net profit came in at $38 million.

At the same time, Pinterest posted a 17% increase in revenue to $998.2 million, slightly above the expected $974.8 million.

The number of monthly active users (MAUs) rose by 11% to 578 million, above the estimated 553 million.

For the third quarter, Pinterest forecasts revenue between $1.03 billion and $1.05 billion, in line with expectations.

Gen Z users now make up more than half of the user base, and the AI-powered advertising platform Performance+ is popular among advertisers.

The platform is also attracting more and more men. They now account for a third of the 570 million active users worldwide.

Men mainly use Pinterest for inspiration, aesthetics, and self-discovery with searches for skincare and healthy hair routines, and even makeup.

Emerce

Read More: Pinterest Results