Pinterest revenue jumps thanks to strong holiday season

Pinterest has seen its advertising business grow steadily in recent months as advertisers turned to the internet due to the pandemic. The company said it experienced good turnout from small- and medium-sized businesses in the fourth quarter, including in categories like consumer-packaged goods and retail.

The company said it has 459 million monthly users, up 37% from a year earlier. Analysts, on average, estimated about 448 million users.

Profit, excluding some items, was 43 cents a share, topping the average estimate of 33 cents.

Pinterest shares reached a high of $88.38 in extended trading after closing at $77.84 in New York. The stock has gained about 18% this year after more than tripling in 2020.

—Bloomberg News

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