Pinterest reported first‑quarter 2026 revenue of $1.008 billion, an 18% year‑over‑year increase and 15% on a constant‑currency basis, while monthly active users reached a record 631 million, up 11% from the prior year. Average revenue per user rose to $1.61, reflecting stronger demand for Pinterest’s AI‑driven advertising platform and higher engagement in core markets.
Adjusted earnings per share were $0.27, beating the consensus estimate of $0.22 by $0.05 and a 23% upside. The company posted a GAAP net loss of $74 million, but adjusted EBITDA climbed 20% to $207 million, a margin expansion driven by cost efficiencies and a favorable mix of higher‑margin advertising revenue. The 20% adjusted EBITDA margin represents a 40‑basis‑point lift over the same period in 2025, underscoring disciplined spend and the impact of the AI‑powered ad platform.
The record user base and higher ARPU are supported by Pinterest’s focus on performance advertising. Management highlighted that the AI‑driven platform is delivering better conversion metrics for advertisers, which has helped lift revenue while keeping cost growth in check. The company also completed roughly $2 billion of share repurchases year‑to‑date, funded in part by a $1 billion convertible note, reducing shares outstanding and signaling confidence in its cash‑flow generation.
Pinterest guided for second‑quarter revenue of $1.13 billion to $1.15 billion, above the consensus estimate of $1.12 billion, and adjusted EBITDA of $256 million to $276 million. The upward revision reflects management’s view that demand for AI‑enhanced advertising will continue to accelerate and that cost controls will sustain margin expansion into the next quarter.
Investors reacted positively to the earnings beat, strong guidance, and record user growth, citing the company’s AI‑driven advertising platform as a key differentiator. The results reinforce Pinterest’s competitive position against Meta and Google, while headwinds such as rising infrastructure and sales‑marketing costs are offset by the scale and performance gains from the AI platform.
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