Pinterest Q2 2023 Earnings Report: Sales Up 6%, Losses Narrow

Pinterest reported its second-quarter 2023 earnings on August 1, 2023. The company’s sales grew 6% year over year to $781 million, while its losses narrowed by 19% to $35 million. Pinterest’s user base also grew 18% year over year to 478 million monthly active users.

On the one hand, these results are a positive sign for Pinterest. The company’s sales growth is outpacing the overall advertising market, and its user base is growing at a healthy pace. Additionally, Pinterest’s advertising revenue grew 12% year over year, which is a strong performance.

On the other hand, Pinterest’s losses are still significant. The company’s operating loss was $42 million, or 6 cents per share. This is a slight improvement from the year-ago period, but it’s still not a sustainable level of profitability.

Looking ahead, Pinterest expects its third-quarter sales to grow in the high single digits range year over year. However, the company also expects its third-quarter non-GAAP operating expenses to grow in the low single digits range year over year. This suggests that Pinterest’s profitability may not improve significantly in the near term.

Pinterest’s Q2 2023 earnings report was a mixed bag. The company’s sales growth is encouraging, but its losses are still significant. It will be interesting to see if Pinterest can improve its profitability in the coming quarters.