In this video, I will go over Pinterest's (PINS +0.00%) Q1 earnings report and talk about all the current and future product developments the company is working on. You can find the video below but here are some highlights.
The company reported Q1 revenue of $575 million, up 18% year over year (YOY). Global monthly active users (MAUs) decreased 9% YOY to 433 million. And As of April 25, 2022, U.S. and Canada MAUs were 94.0 million, and our Global MAUs were 432.9 million. Management hinted at a potentially weaker Q2.
- U.S. and Canada revenue grew 15% to $470 million, Europe revenue grew 27% to $87 million, and Rest of World revenue grew 152% to $17 million.
- The company expects that Q2 revenue will grow around 11% YOY.
- U.S. and Canada MAUs decreased 13% to 94 million, Europe MAUs decreased 12% to 120 million, and Rest of World decreased 6% to 220 million.
- The number of video idea Pinners is up 15x year-over-year.
- U.S. and Canada average revenue per user (ARPU) grew 31% YOY, reaching $4.98, while Europe and Rest of World grew 40% and 164% respectively.
- The company launched the Pinterest API for shopping to help merchants give Pinners real-time information about the products on the platform such as pricing and availability. They also started beta testing Your Shop, which uses Pinterest's know-how to deliver an experience for each Pinner that's personalized to them.
- Management states that their goal is for users to come to Pinterest both to get inspired and to later transition inspiration into purchases.
- Lower search traffic and engagement on the platform occurred largely in part due to a change in Google's algorithms and the situation in Ukraine.
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*Stock prices used were the closing prices of Apr. 27, 2022. The video was published on Apr. 28, 2022.
