Pinterest shares jump as the platform hits 300mn monthly users in its second quarter
Pinterest shares soared on Thursday after the social media platform posted better-than-expected results in its second quarter.
The Californian firm reported revenue of $261mn, a 62% jump from the year before, which it credits in part to a growing advertiser base.
Pinterest CEO, Bill Silbermann, also pointed out how the company reached 300mn monthly active users (MAUs) by the end of the second quarter, up 30% from the year prior.
The news comes after after the Silicon Valley unicorn filed to go public in March.
“The momentum we have seen over the past several quarters continued as more advertisers recognize the power of our platform to reach consumers," said Todd Morgenfeld, CFO.
"We remain encouraged by trends in US average revenue per user (ARPU) and by user growth in international markets”
Pinterest is working hard to expand its global footprint and these efforts are starting to pay off.
In the second quarter, the business reported that its international revenue had increased 199%