Summary by Moomoo AI
Pinterest reported its financial results for the first quarter ended March 31, 2024, revealing a 23% year-on-year increase in revenue to $740 million. The company's Monthly Active Users (MAUs) also grew by 12% to 518 million compared to the same period last year. Despite these gains, Pinterest experienced a loss from operations of $54.4 million and a net loss of $24.8 million. However, the company's Adjusted EBITDA showed a significant improvement, standing at $112.9 million, reflecting the company's ability to manage costs and improve operational efficiency. Pinterest's financial health is further underscored by its substantial cash reserves, with cash, cash equivalents, and marketable securities totaling $2.776 billion. The company's user engagement and monetization efforts are evident in the increased global Average Revenue per...Show More