Pinterest's Q2 losses narrowed by 19% year-on-year, and the average number of monthly active users exceeded 460 million

It is learned that according to foreign media reports, Pinterest CEO Bill Ready reported on Tuesday (August 1) that the number of active users on its platform increased significantly in the second quarter, especially among Generation Z.

"Most notably, this was our largest quarter in user growth in more than two years," the CEO said. "Gen Z is the fastest growing group on Pinterest, and they are more active than any other group."

Pinterest released its financial report on Tuesday (August 1), showing that in the second quarter of fiscal year 2023, its global monthly active users (MAU) were 465 million, an increase of 8% compared with 433 million in the same period last year. Among them, the number of monthly active users in the United States and Canada was 95 million, an increase of 3% compared with 92 million in the same period last year; the number of monthly active users in Europe was 124 million, an increase of 6% compared with 117 million in the same period last year; the number of monthly active users in other parts of the world was 246 million, an increase of 10% compared with 223 million in the same period last year.

In the second quarter, Pinterest's global average revenue per user (ARPU) was $1.53, down 1% from $1.54 in the same period last year. Among them, the average revenue per user in the United States and Canada was $5.92, up 2% from $5.82 in the same period last year; the average revenue per user in Europe was $0.91, up 6% from $0.86 in the same period last year; the average revenue per user in other international regions was $0.12, up 20% from $0.10 in the same period last year.

In addition, Pinterest's revenue in the second quarter was $708 million, up 6% from $666 million in the same period last year; adjusted earnings per share were 21 cents, exceeding analysts' forecasts of $12. The company's second-quarter sales increased 6% year-on-year, and its net loss narrowed to $34.9 million (or 5 cents per share) from $43.1 million (or 7 cents per share) in the same period last year, a 19% reduction.

It is learned that Pinterest was originally an image sharing and social media platform that allows users to save "pins", pictures or links from its website. Users can also upload their own images and share them with others.

However, after Bill Ready took the helm, Pinterest began to lay out social e-commerce. Bill Ready believes that Pinterest is in a higher position than other social media sites because many users come to the platform with a clear shopping purpose. Bill Ready said that after introducing more "shoppable content" to Pinterest, user engagement has greatly increased. Currently, more than half of users are eager to shop directly on its platform.

Editor ✎ Nicole/

Disclaimer: This article is copyrighted and may not be reproduced without permission.