2/4, 10:08 PM (Source: TeleTrader)
more TeleTrader news

Pinterest's Q4 revenue up by 76% YoY to $706M

Pinterest Inc. revealed on Thursday its revenue in the fourth quarter of the year rose by 76% in comparison to the same period in 2019 to $706 million. In the calendar year 2020, the company grossed $1.693 billion, 48% more than in the previous twelve months. The firm scored a net income of $208 million in the fourth quarter, improving from the net loss of $35.7 million reported in the same trimester in 2019.

For the entire year, the company recorded a net loss of 128.3 million, which still marked a rise from the net loss of $1.36 billion the year before. The diluted earnings per share (EPS) stood at $0.30 in the fourth quarter, improving on an annual level from the loss per share of $0.06. In the period of twelve months, the company reported diluted losses per share of $0.22, advancing in comparison to the losses of $3.24 per diluted share year-on-year.

"We welcomed over 100 million additional monthly active users to Pinterest in 2020, more than any other year in our history, and now we reach more than 450 million monthly active users around the world. I'm proud of our company and the inspiration we've been able to bring to so many lives during a trying year," Pinterest Chief Executive Officer (CEO) and co-founder Ben Silbermann commented.

The company's shares jumped by 10.94% in the after-hours trading after the release of the report.

Breaking the News / JR