Pinterest’s advertising business outperforms fourth-quarter sales

Pinterest's

Sales exceeded market expectations in the fourth quarter of 2021 announced by Pinterest, an image-sharing site on the 3rd. The increase in advertising spending by retailers during the holiday season contributed. Stock prices have risen by more than 20% in after-hours trading after closing.

Sales were $ 847 million, up 20% year-on-year. It surpassed the analyst’s estimate of $ 827 million compiled by Refinitiv.

Meanwhile, monthly active users (MAU) fell 6% in the fourth quarter to 431 million, the lowest level since June 2008. Demand, which has surged against the backdrop of the pandemic of the new coronavirus, seems to be declining due to deregulation.

It fell short of FactSet’s analyst estimate of 447.95 million.

Meta Platforms (formerly Facebook) also saw its daily active users decline for the first time in the fourth quarter.

Pinterest’s net income was $ 175 million, down from $ 207.8 million in the year-ago quarter.

Thomas Williams

Thomas Williams writes related to the Trending news Category. He manages to cover anything thrown at him owing to his natural inclination towards Business. Thomas is our freelance contributor. Thomas is responsible for covering developments in Trending news related to finance and the world market.

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