Pinterest 3Q revenue up 8 percent, loses $65 million
Pinterest, Inc. announced financial results for the quarter that ended Sept. 30, 2022.
- Q3 revenue grew 8% year over year to $685 million.
- Global Monthly Active Users (MAUs) were flat year over year at 445 million.
- GAAP net loss was $65 million for Q3. Adjusted EBITDA was $77 million for Q3.
“I’m proud of the solid results our team delivered in Q3, growing revenue 8% year over year, 10% on a constant currency basis, and returning to user growth,” said Bill Ready, CEO, Pinterest. “Despite the challenging macro environment, we are delivering performance and a distinct value proposition to advertisers, reaching users across the full funnel. Through clear focus on increasing engagement that delights our users, we are deepening our monetization per user, and building personalized and relevant experiences that go from inspiration and intent to action.”
Q3 2022 Financial Highlights
The following table summarizes our consolidated financial results (in thousands, except percentages, unaudited):
|
|
Three Months Ended September 30, |
|
% Change |
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|
|
|
2022 |
|
|
|
2021 |
|
|
|
|
Revenue |
$ |
684,550 |
|
|
$ |
632,932 |
|
|
8% |
|
|
|
|
|
|
|
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|
Net income (loss) |
$ |
(65,181 |
) |
|
$ |
93,996 |
|
|
NM |
|
|
|
|
|
|
|
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|
Non-GAAP net income* |
$ |
76,523 |
|
|
$ |
190,549 |
|
|
(60)% |
|
|
|
|
|
|
|
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|
Adjusted EBITDA* |
$ |
77,312 |
|
|
$ |
201,473 |
|
|
(62)% |
|
Adjusted EBITDA margin* |
|
11 |
% |
|
|
32 |
% |
|
|
| ____________________ |
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|
|
|
|
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|
NM – not meaningful |
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* For more information on these non-GAAP financial measures, please see “―About non-GAAP financial measures” and the tables under “―Reconciliation of GAAP to non-GAAP financial results” included at the end of this release. |
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