- Pinterest announced its fourth-quarter revenue and profit last week. And the company revealed its total revenue jumped 46% to $400 million thus enabling the company to hit $1 billion for the year.
When social media bookmarking service Pinterest announced its fourth-quarter revenue and profit last week, investors were impressed by the company’s efforts to improve user interaction and the global expansion.
For the earnings report, Pinterest beat analyst expectations for average revenue per user. And the company reported a bullish sales forecast for this year as it expands into more markets and introduces new features.
Pinterest’s total revenue jumped 46% to $400 million in the fourth quarter. And monthly active users jumped 26% to 335 million globally. For the first time last year, Pinterest surpassed $1 billion of total revenue.
“We’ve seen great success in monetizing in English-speaking countries outside of the U.S. and the investments we’ve made in Western Europe are paying off nicely,” said Pinterest CFO Todd Morgenfeld during a post-earnings call via Reuters.
“In 2020, we continue to pursue our goal of making Pinterest the internet’s home for inspiration by focusing on delivering relevant content, ads and shopping experiences so Pinners can easily go from inspiration to action,” said Pinterest co-founder and CEO Ben Silbermann. And Silbermann pointed out that the company is also planning to focus on “improving the experience from mid-sized and international advertisers.”
Pinterest is also planning to launch a Verified Merchants Program in order to mark trusted brands that meet the company guidelines. And the companies working on an augmented reality feature enabling users to virtually test out cosmetics.
For 2020, Pinterest is anticipating revenue of up to $1.52 billion.
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