Pinterest beats quarterly revenue estimates on user addition
(Reuters) – Pinterest Inc reported second-quarter revenue above Wall Street estimates on Thursday, as the online scrapbook company added more monthly active users.
The company said monthly active users rose 30% in the quarter to 300 million globally, above estimates of 291.4 million, according to IBES data from Refinitiv.
Pinterest also raised its 2019 revenue forecast and now expects it between $1.095 billion and $1.115 billion, compared with the prior forecast of $1.055 billion to $1.08 billion.
“Our performance was driven by a combination of international and U.S. growth and was also positively impacted by the later timing of Easter (in 2019) vs. in 2018,” the company said in a statement.
Total revenue in the quarter, its second since going public in April, rose 62% to $261 million, above analysts’ estimate of $235.5 million.
(Reporting by Akanksha Rana in Bengaluru; Editing by Shinjini Ganguli)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Find our entire collection of stories, in-depth analysis, live updates, videos & more on Chandrayaan 2 Moon Mission on our dedicated #Chandrayaan2TheMoon domain.