5 Must-Watch Quarterly Reports

3. Pinterest, Inc. (NYSE:PINS)

Number of Hedge Fund Holders: 63

Shares of Pinterest, Inc. (NYSE:PINS) rose nearly six percent on Friday, 5 November 2021, after beating expectations for the third quarter. The image sharing and social media service reported adjusted earnings of 28 cents per share, more than double from 13 cents per share in the year-ago quarter.

Revenue came in at $632.9 million, up 43 percent from $442.6 million in the same period last year. Analysts were expecting Pinterest, Inc. (NYSE:PINS) to report earnings of 22 cents per share on revenue of $631 million.

If we look at the key growth indicators, monthly active users in the quarter increased one percent to 444 million, missing expectations of 460 million. On the bright side, the average revenue per user of $1.41 per share surpassed the consensus forecast of $1.38 per share.

Expressing his satisfaction with the results, CEO Ben Silbermann said:

“We were pleased with the financial results that we delivered in Q3. Revenue grew 43% year-over-year and I am proud of the team’s progress in launching a number of new products for both creators and brands, bringing more video content and shoppable features to Pinterest.”