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Pinterest (PINS) earnings: Q1 2022

Pedestrians move in entrance of Pinterest signage displayed outdoors of the New York Inventory Change.

Michael Nagle | Bloomberg | Getty Pictures

Pinterest jumped in after-hours buying and selling Wednesday after the social media firm reported first quarter 2022 earnings that beat analyst expectations.

The inventory was up greater than 6%.

This is how Pinterest did versus Refinitiv consensus estimates:

  • EPS: 10 cents adjusted vs 4 cents anticipated
  • Income: $575 million vs $573 million

Pinterest mentioned it expects second quarter income to develop about 11% 12 months over 12 months.

Pinterest mentioned its international month-to-month energetic customers decreased 9% from the identical interval a 12 months in the past to 433 million. Buyers anticipated 437.9 million complete month-to-month energetic customers, in keeping with FactSet and StreetAccount. The corporate attributed the decline largely to pandemic progress within the year-ago quarter and decrease search visitors, pushed by Google’s algorithm change in November 2021.

International common income per consumer got here in at $1.33, up 28% from final 12 months. Wall Road had anticipated ARPU of $1.31, in keeping with FactSet and StreetAccount’s preview.

Earlier than the corporate posted the report, Pinterest inventory dipped almost 3% in buying and selling Wednesday. Buyers have been nervous about macroeconomic situations such because the battle in Ukraine and provide chain points which have impacted some promoting companies. Apple‘s iPhone privateness adjustments and inflation have additionally hampered some entrepreneurs.

Competitor Snap, for instance, said last week it might proceed to face a difficult working atmosphere that leads prospects to pause their campaigns or scale back promoting budgets. Google‘s YouTube on Tuesday additionally reported disappointing ad results. The corporate’s advert income of $6.87 billion trailed the $7.51 billion Wall Street expected, in keeping with StreetAccount.

In its shareholder letter, Pinterest mentioned the traits resulting in its income progress “had been offset by macro headwinds, together with provide chain points and different elements, which continued to affect one in all our largest segments, CPG advertisers, in addition to some mid-market advertisers.”

“In Europe, Russia’s invasion of Ukraine compounded a troublesome macro atmosphere, impacting a lot of our advertisers in that area,” the corporate added.

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