Pinterest Inc.
Pinterest Reports Strong Q4 and Full Year 2023 Financial Results, Announces Q1 2024 Guidance
Summary
On February 8, 2024, Pinterest, Inc. announced its financial results for the quarter and full year ended December 31, 2023, reporting a 12% increase in Q4 revenue to $981 million and a 9% increase for the full year to $3,055 million. Global Monthly Active Users (MAUs) reached an all-time high of 498 million, up 11% year over year. The company also provided guidance for Q1 2024, expecting revenue between $690 million to $705 million with a year-over-year growth of 15-17%.
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About Pinterest Inc.
Pinterest Inc. is a social media company that operates a unique platform designed for users to discover, save, and share visual content. The primary function of Pinterest is to serve as a discovery engine for finding ideas like recipes, home and style inspirations, and various lifestyle concepts. Users engage with the platform by creating 'boards' where they 'pin' images and links, allowing for curated collections of interests and projects. Pinterest caters to both individual and business users, providing businesses with opportunities to advertise and promote products through visually appealing ads integrated seamlessly into the platform. The company's platform impacts the advertising and e-commerce industries by offering brands a visually driven medium to connect with a highly engaged audience. Founded in 2010 and headquartered in San Francisco, California, Pinterest plays a significant role in the digital marketing space by influencing purchasing decisions and consumer trends through its visual exploration and inspiration platform.
Official SEC Documents
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