Pinterest's second-quarter revenue reached $998.2 million, significantly surpassing Wall Street's expectation of $975 million. This marks a 17% rise from $853.6 million year-over-year. Net income saw a dramatic increase of 336%, climbing to $38.8 million. The company also forecasts a strong third quarter, predicting revenue between $1.03 billion and $1.05 billion. User engagement improved, with a total of 578 million monthly active users, 50% of whom belong to Gen Z. CEO Bill Ready highlighted the company's transformation into a personalized shopping destination integrated with AI technologies.
"Three years into our business transformation, I've never been more confident in Pinterest's ability to deliver for our users and advertisers. We've found our best product market fit ever by becoming a personalized shopping destination for users and an AI-powered performance platform for advertisers."
"Due to the sophistication of this model and the breadth of content and activity [it] is trained on, it can recommend more relevant and deeply personalized content for our users while also balancing the distribution of fresh content."
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