Pinterest sees strong sales as ad spending booms in holiday rush

Pinterest sees strong sales as ad spending booms in holiday rush

Information about Pinterest sees strong sales as ad spending booms in holiday rush

Kevin David


(Reuters) -Pinterest Inc forecast fourth-quarter revenue growth in the high-teens percentage range, after online retailers splurging on ads before the holiday season helped the image-sharing company beat quarterly estimates.
Shares of the company rose 6.5% after the bell on Thursday, as increased demand from large retail advertisers and growth in its international business boosted third-quarter revenue 43%.
Advertisers in the consumer packaged goods segment, however, were hurt by global supply chain constraints, impacting Pinterest’s revenue growth rate.
In a post earnings call, the company also said it did not face any material impact from Apple’s privacy changes which have made it difficult for social media companies to target audiences and measure advertising capabilities.
Pinterest’s monthly active users (MAU), meanwhile, grew just 1% to 444 million, missing Factset estimates of 460 million. …

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