Summary by Moomoo AI
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
