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7/29, 10:09 PM (Source: TeleTrader)
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Pinterest-12.74%

50.67
Chart for: Pinterest Inc

Pinterest: Q2 revenue surges 125% to $613M

Pinterest Inc. reported on Thursday that its revenue in the second quarter of fiscal 2021 reached $613 million after soaring 125% from the same timeframe the previous year. The number of Global Monthly Active Users (MAUs) increased 9% year on year to 454 million.

Income from operations was $72 million, up from a $104.5 million loss from operations from the second three-month period in 2020. Net income hit $69.4 million in the second trimester of 2021, compared to a $100.7 million net loss a year ago, while diluted net income per share improved to $0.10 from diluted net loss per share of $0.17 recorded in the second quarter of 2020.

"While we navigate through pandemic impacts, Pinterest is focused on building for the long-term by transforming from a place to browse, save and organize to a community of inspiring people sharing their passions and expertise," CEO and co-founder Ben Silbermann said in a statement.

Company shares plummeted 13.95% in after-hours trading following the release of the earnings report.

Breaking the News / MS