Pinterest’s Stock Soars 22% Higher On Strong Financial Results

The stock of Pinterest (PINS) is up 22% after the social media company reported fourth-quarter 2024 financial results that surpassed Wall Street forecasts. The company, which specializes in image sharing and digital pinboards, reported earnings per share (EPS) of $0.56 U.S., which was below the $0.65 U.S. expected among analysts. However, the company’s revenue of $1.15 billion U.S. was ahead of the $1.14 billion U.S. consensus expectation among analysts. Sales were up 18% from a year ago.The company’s fourth-quarter earnings margin was 41%, which was higher than the 39% Wall Street was anticipating.Pinterest also issued bullish forward guidance, saying it expects first-quarter sales to come in between $837 million U.S. and $852 million U.S. The midpoint of that range, $844.5 million U.S., topped analysts’ expectations of $833 million U.S.The company said global monthly active users grew 11% from a year ago to 553 million in the fourth quarter of last year, ahead of Wall Street estimates of 547.4 million. Pinterest’s global monthly active user numbers grew 3% from 537 million brought in during the third quarter of 2024.Additionally, Pinterest’s fourth-quarter global average revenue per user was $2.12 U.S., which was higher than analysts’ expectations of $2.09 U.S.Before today (Feb. 7), the stock of Pinterest had declined 18% over the last 12 months to trade at $33.59 U.S. per share.