In it’ latest performance update, Pinterest Q1 2024 report looks good and solid!
First off, on users, Pinterest is now up to 518 million monthly actives, up from 498m in Q4. Pinterest added 13 million more active users in the “Rest of World” category, its growth in the U.S. was minimal, while E.U. users increased by 5 million in the period.
Pinterest makes the vast majority of its income in the U.S., so ideally, it would want to see this market share increasing, with Europe coming in a distant second for intake. Growth in other regions bodes well for future opportunities, but for right now, that topline growth is a little deceiving in terms of driving immediate value for the business.
Pinterest brought in $740 million for the quarter, but only a tiny fraction of that came from outside the U.S. and Europe, and that share has actually declined quarter-over-quarter.
Pinterest’s costs are rising, with sales and marketing up 12% YoY in the quarter. That could also bode well for future potential, if those dollars are well spent.
Here’s whaat Pinterest CEO Bill Ready has to say –
and finally –
You caan read complete Pinterest Q1 2024 Report here.
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