Company Reports

Pinterest reported second-quarter results, which included sales growing 18% to $1.18 billion and adjusted EBITDA margins expanding 100 basis points to 25%. User count grew 11%, while average revenue per user, or ARPU, grew 7% in the quarter.

Pinterest kicked off 2026 with strong financial results. The firm's sales grew 18% to more than $1 billion, while its adjusted EBITDA margins remained flat at 20%. The firm's second-quarter guidance calls for 15% sales growth and adjusted EBITDA margins of 23%.

Pinterest reported a solid end to 2025 with fourth-quarter sales growing 14% to $1.3 billion and adjusted EBITDA margins flat at 41%. The strong results were more than offset by weak guidance for the upcoming quarter, with the firm projecting sales growth to be 12.5%.

We view Pinterest as a differentiated player that has carved out a niche in a competitive digital advertising market. While the firm’s user count remains markedly below its larger social media peer Meta, we remain optimistic about the company’s ability to increase its share within digital advertising budgets by leveraging e-commerce features and ads on its platform, thus increasing ad monetization.

We view Pinterest as a differentiated player that has carved out a niche in a crowded digital advertising market. While the firm’s user count remains markedly below its larger social media peer Meta, we remain optimistic about the company’s ability to increase its share within digital advertising budgets by leveraging e-commerce features and ads on its platform, thus increasing ad monetization.

Pinterest reported strong third-quarter earnings, with sales and adjusted EBITDA expanding 17% to $1.05 billion and 200 basis points to 27%, respectively. The strong results were offset by the firm's fourth-quarter guidance, with the $1.33 billion sales target falling short of the FactSet consensus.

Pinterest reported second-quarter earnings, which included the firm's sales growing 17% to $998 million and its adjusted EBITDA expanding 300 basis points to 25%. The firm also provided solid third-quarter sales guidance that calls for 16% sales growth.

Pinterest reported solid first-quarter earnings, with the firm's sales and adjusted EBITDA margins growing 16% to $855 million and 300 basis points to 20%, respectively. Amid a volatile macro environment, management's sales guidance for the second quarter calls for sales growth of 14%.

We view Pinterest as a differentiated player that has carved out a niche in a crowded digital advertising market. While the firm’s user count remains markedly below its larger social media peer Meta, we remain optimistic about the company’s ability to increase its share within digital advertising budgets by increasingly leveraging e-commerce features and ads on its platform, thus increasing ad monetization.

Pinterest reported strong fourth-quarter results with sales growing 18% to $1.15 billion and adjusted EBITDA margins expanding 320 basis points to 41%. Along with earnings, management provided sales guidance for the upcoming quarter, with sales expected to be up 14% year over year.

We view Pinterest as a differentiated player that has carved out a niche in a crowded digital advertising market. While the firm’s user count remains markedly below its larger social media peer Meta, we remain optimistic about the company’s ability to increase its share within digital advertising budgets by increasingly leveraging e-commerce features and ads on its platform, thus increasing ad monetization.

Pinterest reported third-quarter earnings that included sales growth of 18% and adjusted EBITDA margin of 27%. Along with the quarterly report, management provided guidance for the upcoming quarter, which calls for sales growth of 16%.

Pinterest reported solid second-quarter results, but its revenue outlook and expense forecast for the third quarter are a bit weaker than we had expected, likely reflecting caution given some of the economic and political uncertainty that has cropped up recently. We continue to believe the firm will perform well in the years ahead as investments in the customer experience and advertising tools drive growth. We are maintaining our $43 fair value estimate, and the shares look attractive after dropping sharply on the earnings release.

In line with our expectation for accelerating growth, Pinterest delivered strong first-quarter results as user engagement and monetization continued to improve. Management expects strong growth to continue as recent efforts to attract more ad dollars attract more advertisers. The firm also plans to ramp up operating expense growth to invest further in artificial intelligence and sales personnel. We are maintaining our $43 fair value estimate, leaving the shares roughly fairly valued after rallying on earnings.

Pinterest is focused on carving out a piece of the global digital advertising market. While we don't expect it to displace online advertising behemoths Google and Facebook or up-and-coming Amazon, we expect it to attract a small slice of digital ad spending.

Pinterest is focused on carving out a piece of the global digital advertising market. While we don't expect it to displace online advertising behemoths Google and Facebook or up-and-coming Amazon, we expect it to attract a small slice of digital ad spending.

Pinterest, an online product and idea discovery company, is focused on carving out a piece of the global digital advertising space. While we don't expect Pinterest to displace online advertising behemoths Google and Facebook or up-and-coming Amazon, we do expect it to attract a small pinch of digital ad spending, which we estimate is an addressable market of more than $600 billion.

We are raising our fair value estimate of narrow-moat Pinterest to $43 from $37. While the stock declined 9% after hours in reaction to the fourth-quarter revenue coming in slightly below expectations, it remains fairly valued.

Pinterest’s network effect strengthened further during the third quarter, demonstrated by strong top- and bottom-line results on the back of user growth, better engagement, and higher monetization. The solid revenue growth created operating leverage and margin expansion, which management stated will continue, supporting our assumptions. In addition to the impressive results, some comments from the firm also confirm our belief that hesitancy on the part of advertisers is declining, which is good news for the overall advertising market. Regarding the firm’s platform specifically, more advertisers are connecting their marketing data with Pinterest, which in our view indicates confidence by the advertisers and their plans to spend more on the platform in the long run. We slightly increased our projections, which resulted in a $37 fair value estimate, up from $36.

Pinterest, an online product and idea discovery company, is focused on carving out a piece of the global digital advertising space. While we don't expect Pinterest to displace online advertising behemoths Google and Facebook or up-and-coming Amazon, we do expect it to attract a small pinch of digital ad spending, which we estimate is an addressable market of more than $600 billion.