Record-Breaking Quarter for Pinterest

In an impressive display of growth, Pinterest Inc. announced a significant 18% increase in revenue for the fourth quarter of fiscal 2024, totaling $1.1 billion. This remarkable achievement highlights the company's strong performance and strategic initiatives.

Financial Highlights

The company's net income experienced an astonishing 818% surge compared to the previous year, reaching $1.85 billion. Additionally, diluted earnings per share (EPS) saw a dramatic rise from $0.29 in Q4 2023 to $2.68 in Q4 2024, showcasing Pinterest's financial health and investor confidence.

Annual Performance Overview

For the entire year of 2024, Pinterest's revenue grew by 19% year-on-year to $3.65 billion. The net income for the year stood at $1.9 billion, a significant turnaround from a $35.6 million loss in 2023. Diluted EPS also improved, moving from a loss per share of $0.05 in 2023 to $2.67 in 2024.

CEO's Statement

"2024 was a landmark year for Pinterest, culminating in a milestone Q4. We achieved our first billion-dollar revenue quarter and reached a record 553 million monthly active users. Our focus remains on driving profitable growth and generating free cash flow," stated CEO Bill Ready, reflecting on the company's achievements.

Market Response

Following the announcement, Pinterest's stock experienced a notable 17.45% increase in after-hours trading, signaling strong market approval and optimism for the company's future.