Pinterest's Q4 revenue rises 4% to $877 million
Pinterest, Inc. announced on Monday that its revenue for the fourth fiscal quarter of 2022 was $877 million, an increase of 4% from the same period in 2021, but below expectations. Meanwhile, for 2022, the figure increased by 9% to $2.8 billion compared with the previous year.
The company stated that Global Monthly Active Users (MAU) grew by 4% year-on-year to 450 million in the three months to December 31. Besides, the firm declared a net income of $17.5 million for the last quarter of the year, while for the 12 months, net losses amounted to $96 million.
"2022 was a solid year as we returned to MAU growth, deepened engagement, and saw our personalization and relevance investments start to pay off," said Bill Ready, Pinterest CEO. "We're building upon this foundation by staying focused on growing monetization per user, integrating shopping throughout the core user experience, and increasingly driving operational rigor."