PINS stock traded up in morning trade on July 31, 2020, after the company reported Q2 results.

Pinterest, Inc. (NYSE: PINS) today announced financial results for the quarter ended June 30, 2020. Pinterest reported Q2 EPS of (13c) versus the consensus estimate of (13c). The company reported Q2 revenue of $272M verusus the consensus estimate of $251.24M.

Highlights:

  • Q2 revenue grew 4% year over year to $272 million.
  • Global Monthly Active Users (MAUs) grew 39% year over year to 416 million.
  • GAAP net loss was $(101) million for Q2. Adjusted EBITDA was $(34) million.

“This quarter we reached a milestone—more than 400 million people now come to Pinterest every month to get and stay inspired,” said Ben Silbermann, CEO and co-founder, Pinterest. “In these tough times, we’re seeing more and more people rely on Pinterest to cook at home, plan kids activities and set up a home office. Businesses are helping them turn their ideas into reality as people are increasingly discovering and buying products on Pinterest.”

“By all accounts, this was a challenging quarter as COVID-19 continued to spread. I’m pleased with the way we responded and remained engaged with our advertising partners,” said Todd Morgenfeld, CFO and Head of Business Operations, Pinterest. “It has been encouraging to see the recovery in our business over the past few months, but there is still a tremendous amount of uncertainty and work to be done.”

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