Pinterest shares (NYSE: PINS) are skyrocketing in premarket trading this morning after the company announced Q4 results for its fiscal 2024 yesterday. PINS stock is currently up over 22% to above $41 per share as of the time of this writing.
Pinterest, Inc. PINS shares are trading higher on Friday.
PINS reports solid revenue growth in the fourth quarter of 2024. However, weakness in the food and beverage category remains a headwind.
The stock market was having a generally negative day on Friday, with all three major market averages in the red at 10:30 a.m. ET. However, social media stock Pinterest (PINS 17.70%) was a major standout, with shares higher by more than 18%.
Here's our initial take on Pinterest's (PINS 17.68%) financial report.
Pinterest shares rallied 20% after beating Wall Street's fourth-quarter revenue estimates and signaling strong user growth. Global monthly active user figures surpassed estimates, showing 11% growth from a year ago.
Pinterest listed the latest attacks on diversity, equity, and inclusion as a possible business risk in its latest 10-K filing.
Pinterest's global monthly active users reached an all-time high of 553 million in the fourth quarter, an increase of 11% from the previous year.
Pinterest shares surged 18% in after-hours trading after the image-sharing platform forecast first-quarter revenue would come in above market expectations. It credited its AI-powered advertising tools, such as the Performance+ suite, for boosting ad spending.
Pinterest, Inc. (NYSE:PINS ) Q4 2024 Earnings Conference Call February 6, 2025 4:30 PM ET Company Participants Bill Ready - Chief Executive Officer Julia Donnelly - Chief Financial Officer Andrew Somberg - Vice President, Investor Relations, Treasury Conference Call Participants Eric Sheridan - Goldman Sachs Brian Nowak - Morgan Stanley John Blackledge - TD Securities Mark Kelly - Stifel Rich Greenfield - LightShed Partners Shweta Khajuria - Wolfe Research Ron Josey - Citigroup Jason Helfstein - Oppenheimer Operator Good afternoon. Thank you all for attending today's Pinterest Inc. Fourth Quarter and Full Year 2024 Earnings Call.
For Pinterest CEO Bill Ready, 2024 was “transformative” because the company's global monthly active users (MAUs) reached an all-time high of 553 million, an 11% increase year over year, and hit a major financial milestone in the fourth quarter, surpassing $1 billion in revenue for the first time.
The headline numbers for Pinterest (PINS) give insight into how the company performed in the quarter ended December 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.