By Sam Boughedda
Investing.com — Shares of Pinterest Inc (NYSE:PINS) rallied after-hours in response to the company's fourth-quarter earnings report that beat both earnings and revenue expectations.
The social media company announced earnings per share of $0.49 on revenue of $846.66 million. Analysts polled by Investing.com anticipated EPS of $0.45 on revenue of $828.14 million. Revenue grew 20% year-over-year.
However, Pinterest's monthly active users decreased 6% year over year to 431 million.
"We took important steps in 2021 with the launch of our foundational technology to deliver a video-first publishing platform. And, I'm proud to say that for the first time, we surpassed $2 billion in revenue for the year — growing 52% over the previous year — and reached our first full year of GAAP profitability," said Ben Silbermann, CEO and cofounder, Pinterest.
The company expects Q1 revenue will grow in the high teens percentage range year over year, in line with analyst expectations.
Pinterest shares jumped more than 23% on the news, more than recouping the regular session's 10% losses which occurred in reaction to Meta's earnings on Wednesday evening.