The pandemic-inspired boom saw Pinterest’s second-quarter revenue grow 125% year over year to $613 million, according to the company’s press release.
- The company’s net income jumped to $69.4 million from a loss position of $101 million in the second quarter of 2020.
- The basic EPS was $0.11 in the second quarter from a loss of $0.17 in Q2 2020.
- The global monthly active users grew 9% to 454 million, up from 416 million users in the same quarter last year.
- Pinterest recognized ongoing engagement headwinds, with US MAUs down about 7% as of July 27, while global MAUs are up as much as 5% year over year.
- The company expects revenue in Q3 to grow in the low -40% range year over year.
Pinterest’s CEO and Co-founder Ben Silbermann has attributed the uptick in profitability to the strength of the business as well as a change in consumer behavior.
PINS: NYSE is down -18.32%.