Social media platform Pinterest Inc. expects to sustain its revenue growth in the first quarter of the year after the double-digit climb in the last three months of 2021, the firm announced in a filing.

  • Fourth-quarter net income came in at $174.699 million, down 16% from the $207.481 million the previous year. This includes a $49-million compensation related to its co-founder’s transition and a $25-million non-cash contribution to charity.
  • Revenue for the quarter stood at $846.665 million, up 20% from $705.617 million the same quarter in 2020. The United States accounted for $648 million, while international operations contributed $199 million.
  • Pinterest expects first-quarter revenue growth in the high-teens percentage range and non-GAAP operating expenses to grow by around 40% year on year as it boosts its investments in its ecosystem.
  • Full-year 2021 revenue was up 52% to $2.578 billion from $1.692 billion in 2020, while the annual net income rebounded to $316.438 million to indicate a reversal from the $128.323-million net loss the past year.

Global monthly active users stood at 431 million in the fourth quarter, down 6% from the previous year. Active users were estimated at 436.8 million as of February 1, 2021. PINS is up 13.50%.