Image sharing platform Pinterest managed to increase the number of users and monthly revenue, which had been on a downward trend for a while, in the second quarter of 2023. The platform managed to go beyond the targets and forecasts, leaving mouths open. Here are the details
Pinterest has smashed the predictions!
In the second quarter of 2021, market recessions caused by economic uncertainties also affected Pinterest. With this situation, the company, which was faced with loss of users and income, like many other countries, finally started to collect things like other companies. The company, which managed to increase its periodic income in parallel with the income graphs of strong competitors such as Google and Meta, achieved a revenue of 708 million dollars, surpassing the expected earnings of 696.1 million dollars.
It reported an eight percent increase in active user numbers, which is the main determinant of the company’s revenue chart. This increase meant that the platform became more and more popular and the user base expanded, making the revenue graphs directly positive. The company aims to face a similar result in the third quarter of the year, predicting an average increase of 7.7 percent.
In this process, Pinterest reduced its real estate footprint and laid off 150 employees in order to reduce costs. What kind of development these developments will cause on this side is among the details that are curious. So what do you guys think? Do you think the company will be able to achieve and even exceed its targets this quarter as well? You can share your views with us in the comments section.
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