Active monthly users reach 300 million and $261 million revenue jump in Q2.
Suffice to say that Pinterest had a good Q2 run for this year as seen in their second earnings report. They went public last April and the numbers are looking good for Pinterest. The platform had a $261 million increase in revenue, that’s $60 million more from the first quarter of 2019.
Despite these increases, they still reported a net loss of $1.16 billion for the quarter. This was due to the RSU (restricted stock unit) expense in connection with their initial public offering. The company expects to surpass the $1 billion in revenue for its full-year 2019 outlook.
Pinterest saw a 9 million increase for its monthly active users. Most of the platform’s users are from the other parts of the world. 85 million users are from the U.S. and the 215 million are scattered globally. Their international users encourage the company to be forth better service for its users. Their focus is towards improving user experiences to drive more engagement and growth.
“During the quarter, we made Pinterest more personal by improving search recommendations, and we also made Pinterest more useful by adding more video content and shoppable products,” said CFO Todd Morgenfeld.
Good news for advertisers
Pinterest continues to grow and diversify its advertising capabilities for brands. Pinterest CEO Ben Silbermann said that this is part of their ongoing effort to make Pinterest a platform where the brand can foster.
During the second quarter of 2019, their mobile ad tools were introduced allowing advertisers to create and manage campaigns using their phones. They also launched their new video capabilities for brands the feature gives marketers the ability to share videos, schedule posts, and add a dedicated video tab in their business profiles. The Complete the Look was also launched with the help of the Walmart tech team. This feature is a visual search tool that enables users with the ability to visualize the context of a scene based on the recommended products relevant to the scene. For instance, if a user likes a certain shirt they might recommend pants to accompany them.
What does this mean?
Clearly, Pinterest is paving its way to becoming a platform that is more advertiser-friendly. Their initiatives this year are all centered to cater to the needs of brands and advertisers. The platform now has several new features for better brand presence.