Summary by Moomoo AI
On November 7, 2024, Pinterest, Inc. reported its financial results for the third quarter ended September 30, 2024. The company announced an 18% increase in revenue to $898 million and an 11% rise in global monthly active users (MAUs) to 537 million. GAAP net income for the quarter was reported at $31 million, with an adjusted EBITDA of $242 million. Pinterest's CEO, Bill Ready, attributed the strong performance to the company's AI investments and advertising tools. The company also provided guidance for the fourth quarter of 2024, expecting revenue to be between $1,125 million and $1,145 million, which would represent a 15-17% growth year over year. Non-GAAP operating expenses are projected to be between $495 million and $510 million. The financial results and future outlook were discussed in a conference call on the same day. Pinterest's stock, traded under the symbol PINS on the New York Stock Exchange, saw significant growth in both user base and revenue, with particular strength in the U.S. and Canada, Europe, and the Rest of the World markets.
