- General
- February 8, 2021
- 4 minutes read
2020: Strong Revenue Growth For Pinterest
Pinterest is the popular social bookmarking site used majorly by women. Since the company went public in April 2019, it’s adopted…
Pinterest is the popular social bookmarking site used majorly by women. Since the company went public in April 2019, it’s adopted the requirements of a public company by reporting its quarterly and annual financials periodically. Now, Pinterest recently released its financial results for its most recent quarter and year, being the fourth quarter closing 2020, and its results indicated strong revenue growth.
In the fourth quarter of 2020, Pinterest reported a 76% yearly jump in revenue to $706 million. For the full 2020, the company posted a record $1.7 billion in revenue. In a year that brought the Covid-19 pandemic and widely drove up the usage of social platforms, Pinterest grew its number of Global Monthly Active Users 37% over the year to 459 million.
With increasing usage and better monetization, it’s no surprise that Pinterest reported record revenues in 2020.
In the fourth quarter, Pinterest was highly profitable with a net income of $208 million, Yet, losses from the previous three quarters made it post an overall net loss of $128 million in 2020.
The fourth quarter happens to be Pinterest’s first profitable quarter as a public company and one that brought in record profits.
The full statement of Pinterest’s 2020 financials is seen below.
Q4’20-Pinterest-EPR on Scribd
