Summary by Moomoo AI
Pinterest reported strong Q3 2024 financial results with revenue increasing 18% year-over-year to $898.4 million, driven by growth in demand from consideration and conversion objectives. Monthly Active Users (MAUs) grew 11% to 537 million, while global Average Revenue Per User (ARPU) rose 5% to $1.70. The company delivered net income of $30.6 million and Adjusted EBITDA of $242.1 million.The company's advertising business showed robust performance with a 41% increase in advertisements served, though average price per ad decreased 17%. Geographic revenue growth was strong across all regions, with U.S. and Canada up 16% to $719.5 million, Europe rising 20% to $136.6 million, and Rest of World increasing 38% to $42.3 million.Looking ahead, Pinterest maintained strong liquidity with $2.4 billion in cash and marketable securities. The board authorized a new $2.0 billion stock repurchase program in November 2024, replacing the previous $1.0 billion program. The company continues to focus on expanding its full-funnel advertising solutions and improving platform engagement through AI and personalization initiatives.
