In the first quarter, Pinterest achieved a remarkable growth of 23% in annual revenue, reaching $740 million. This performance exceeded analysts' expectations and was made possible by strategic investments in shoppability and artificial intelligence (AI).
Positive results
The number of monthly active users worldwide grew by 12% Year-on-Year to 518 million. Additionally, clicks to advertisers doubled, partly thanks to the full rollout of direct links to lower funnel ad formats.
Focus on shoppability and AI
Pinterest has increasingly focused on shoppability and AI to achieve better results for advertisers. Through AI-driven collage features and the expansion of shoppable content to video Pins, the platform offers new opportunities for direct interaction and purchases.
Adjusting advertising strategies
Companies looking to capitalize on this growth trend must align their advertising strategies with the evolving opportunities of Pinterest. With an expected revenue growth of 18%-20% Year-over-Year in Q2, Pinterest offers fertile ground for advertisers seeking expanding digital opportunities.