Pinterest stock rose over 28% in extended trading on Thursday after the social media company reported fourth quarter earnings and sales that beat Wall Street expectations.
Here’s how Pinterest did versus Refinitiv consensus estimates:
EPS: $0.49, adjusted, versus $0.45 expected.
Revenue: $847 million, versus $827 million expected, up 20% year-over-year
Pinterest said that first quarter revenue would grow “in the high teens” annually, in line with analyst expectations of a 18% year-over-year increase.
Pinterest said that its global monthly active users, a key metric for measuring the health of a social network, declined 6% year-over-year to 431 million. During the quarter, monthly active users declined 12% in the United States to 86 million.
However, average revenue rose 23% in the quarter to $1.93 per global user.
Before the report, Pinterest stock had dropped 10% on Thursday, after competitor Meta reported an outlook worse than expectations on Wednesday, and came up short on user numbers, prompting investors to sell off social media stocks.