Pinterest Inc. reported beardown income and net for its 3rd quarter, but a shortfall successful monthly progressive users.
The banal PINS, -2.33% jumped 8% successful extended trading Thursday aft the social-media institution reported fiscal third-quarter results that underwhelmed Wall Street. Pinterest reported nett income of $94 million, oregon 14 cents a share, compared with a nett nonaccomplishment of $94.2 million, oregon 16 cents a share, successful the year-ago quarter. The company’s adjusted nett income was $201 million, oregon 28 cents a share.
Revenue soared 43% to $632.9 cardinal from $442.6 cardinal a twelvemonth ago. Analysts surveyed by FactSet had expected nett income of 22 cents a stock connected gross of $631 million.
Another cardinal metric, mean gross per idiosyncratic (ARPU), was $1.41 with monthly progressive users (MAUs) astatine 444 million. Analysts had expected ARPU to amended sequentially to $1.38 from $1.32 successful the 2nd quarter, with MAUs improving to 460 cardinal from 454 cardinal successful the 2nd quarter.
“Revenue grew 43% year-over-year and I americium arrogant of the team’s advancement successful launching a fig of caller products for some creators and brands, bringing much video contented and shoppable features to Pinterest,” Chief Executive Ben Silbermann said successful a connection announcing the results.
Pinterest said it expects fourth-quarter gross to turn successful the “high teens percent range” twelvemonth implicit year.
The institution did not notation the interaction of Apple Inc.’s caller changes successful mobile privateness argumentation connected advertising. Snap Inc. SNAP, -1.28% and Facebook Inc. FB, +1.28% earlier blamed n Apple’s AAPL, -0.35% changes that marque it harder for advertisers to people customers. Google genitor Alphabet Inc. GOOGL, +1.14% GOOG, +1.29% and Twitter Inc. TWTR, -1.56% went mostly unscathed.
Pinterest is “more exposed than Google to iOS challenges and has greater direct
response vulnerability than Twitter,” Evercore ISI expert Mark Mahaney said successful a Nov. 1 enactment to clients.
Pinterest’s banal has dropped 34% successful 2021. The broader S&P 500 scale SPX, +0.42% has gained 24.6% this year.
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