Pinterest, Inc. (NYSE: PINS) today announced financial results for the quarter and year ended December 31, 2020.
- Q4 revenue grew 76% year over year to $706 million. 2020 revenue grew 48% year over year to $1,693 million.
- Global Monthly Active Users (MAUs) grew 37% year over year to 459 million.
- GAAP net income (loss) was $208 million and $(128) million for Q4 and 2020, respectively. Adjusted EBITDA was $299 million and $305 million for Q4 and 2020, respectively.
“We welcomed over 100 million additional monthly active users to Pinterest in 2020, more than any other year in our history, and now we reach more than 450 million monthly active users around the world. I’m proud of our company and the inspiration we’ve been able to bring to so many lives during a trying year,” said Ben Silbermann, CEO and co-founder, Pinterest. “As we look to the future, our focus will continue to be delivering more inspiring and shoppable content and helping advertisers realize the value and positivity of our platform.”
“Q4 capped a remarkable year of growth for Pinterest. Continued product innovation, execution and an earlier and longer holiday season helped us deliver 76% year-over-year revenue growth,” said Todd Morgenfeld, CFO and Head of Business Operations, Pinterest. “As we start 2021, we’ll be building on this momentum by continuing to invest in the success of our advertisers as well as a first-class Pinner experience around the globe.”
CWEB Analyst’s have initiated a Buy Rating for Pinterest, Inc. (NYSE: PINS) and potential upside of $180 by 2021.