Summary by Moomoo AI
Pinterest delivered strong Q2 2024 results with revenue growing 21% YoY to $854 million, driven by improved monetization and advertiser adoption. The platform achieved record global Monthly Active Users (MAUs) of 522 million, up 12% YoY, with notable growth across all regions. U.S. and Canada revenue rose 19% to $673 million.The company reported GAAP net income of $9 million, a significant improvement from a $35 million loss in Q2 2023. Adjusted EBITDA reached $180 million with a 21% margin. The strong performance was attributed to successful AI-powered product rollouts and increased advertising budget allocation from major brands.Looking ahead, Pinterest projects Q3 2024 revenue between $885-900 million, representing 16-18% YoY growth. The company expects non-GAAP operating expenses to range from $485-500 million, up 17-20% YoY, as it continues investing in platform innovation and user experience improvements.
