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Pinterest's (PINS) Q3 Earnings Beat, Revenues Surge Y/Y

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  • PINS
  • CSCO
  • CLFD

Pinterest PINS reported third-quarter 2021 non-GAAP earnings of 28 cents per share, which beat the Zacks Consensus Estimate by 16.7% and surged 115.4% year over year.

Revenues soared 42.9% year over year to $633 million and beat the Zacks Consensus Estimate by 0.9%.

Revenues from the United States increased 33.2% year over year to $498 million. International revenues soared 95.7% year over year to $135 million.

User Base Details

Monthly active users (MAUs) increased 1% from the prior-year quarter to 444 million globally. While United States MAUs decreased 10% to 89 million, International MAUs grew 4% from the year-ago quarter to 356 million.

Pinterest, Inc. Price, Consensus and EPS Surprise

Pinterest, Inc. Price, Consensus and EPS Surprise
Pinterest, Inc. Price, Consensus and EPS Surprise

Pinterest, Inc. price-consensus-eps-surprise-chart | Pinterest, Inc. Quote

Global average revenue per user (ARPU) increased 37% from a year ago to $1.41.

While ARPU in the United States increased 44% year over year to $5.55, International ARPU surged 81% to 38 cents.

Operating Details

Pinterest’s third-quarter 2021 total costs and expenses increased 22.2% year over year to $438 million.

For the reported quarter, research and development expenses increased 16.1% from the prior-year period to $186 million. Sales and marketing expenses surged 31.7% year over year to $156.1 million.

General and administrative expenses decreased 55.7% year over year to $65.7 million.

Adjusted EBITDA (32% of total revenues) was $201.5 million for third-quarter 2021, up 117% year over year.

Balance Sheet

The company ended Sep 30, 2021 with cash, cash equivalents and marketable securities of $2.31 billion compared with $2.14 billion as of Jun 30, 2021.

Guidance

Pinterest expects fourth-quarter revenues grow in the high teens percentage range year over year. Non-GAAP operating expenses are expected to grow in the low teens sequentially.

Zacks Rank & Stocks to Consider

Pinterest currently has a Zacks Rank #3 (Hold).

Better-ranked stocks in the broader technology sector include Applied Materials AMAT, Cisco Systems CSCO and Clearfield CLFD. While Clearfield sports a Zacks Rank #1 (Strong Buy), both Applied Materials and Cisco carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Clearfield and Cisco are set to report their earnings results on Nov 4 and 17, respectively. Applied Material is likely to report the same on Nov 11.


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