Pinterest, Inc. (PINS.US) has reported its financial results for the year ended December 31, 2023. The company saw a revenue increase of 9% to $3,055.1 million compared to the previous year. Despite this growth, Pinterest experienced a loss from operations of $125.7 million and a net loss of $35.6 million. However, the company's Adjusted EBITDA was positive at $683.5 million. Pinterest's Monthly Active Users (MAUs) grew by 11% to 498 million. The company also highlighted the impact of macroeconomic conditions on its business, including inflation and supply chain issues. In March 2023, Pinterest initiated a restructuring plan to improve efficiency, which resulted in a workforce reduction of approximately 4% and the subleasing or abandonment of certain office spaces. The plan was completed in the third quarter of 2023. Pinterest...Show More

Pinterest, Inc. (PINS.US) has reported its financial results for the year ended December 31, 2023. The company saw a revenue increase of 9% to $3,055.1 million compared to the previous year. Despite this growth, Pinterest experienced a loss from operations of $125.7 million and a net loss of $35.6 million. However, the company's Adjusted EBITDA was positive at $683.5 million. Pinterest's Monthly Active Users (MAUs) grew by 11% to 498 million. The company also highlighted the impact of macroeconomic conditions on its business, including inflation and supply chain issues. In March 2023, Pinterest initiated a restructuring plan to improve efficiency, which resulted in a workforce reduction of approximately 4% and the subleasing or abandonment of certain office spaces. The plan was completed in the third quarter of 2023. Pinterest's board of directors authorized a new stock repurchase program of up to $1.0 billion of its Class A common stock, with $1.0 billion still available for repurchases as of December 31, 2023. The company's liquidity remains strong with $2,511.1 million in cash, cash equivalents, and marketable securities. Pinterest's future plans include continued investments in relevance and personalization to drive user growth and engagement.