PINTEREST Reports 6.3% Year-Over-Year Revenue Increase and Improved Net Income for Q2 FY2023
August 25, 2023
☀️Earnings Overview
For the quarter ending June 30, 2023, PINTEREST ($NYSE:PINS) reported total revenue of USD 708.0 million – a 6.3% year-over-year increase – and a net income of USD -34.9 million, compared to the previous year’s figure of -43.1 million for the second quarter of FY2023.
Analysis
GoodWhale recently conducted an analysis of PINTEREST‘s wellbeing. After assessing various financial and business aspects, GoodWhale assigned PINTEREST a Risk Rating of medium. This rating suggests that investors should exercise caution when considering investing in the company. The detailed analysis provided by GoodWhale revealed three specific risk warnings on PINTEREST’s income sheet, balance sheet and cashflow statement. Investors who are interested in learning more about the exact nature of these warnings can register with GoodWhale to gain full access to the report. A comprehensive assessment of PINTEREST’s financial situation can help investors make a more informed decision when it comes to investing in the company. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Pinterest. More…
| Total Revenues | Net Income | Net Margin |
| 2.87k | -291.21 | -10.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Pinterest. More…
| Operations | Investing | Financing |
| 381.92 | -70.89 | -775.04 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Pinterest. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.2k | 508.71 | 4.02 |
Key Ratios Snapshot
Some of the financial key ratios for Pinterest are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 32.9% | – | -12.3% |
| FCF Margin | ROE | ROA |
| 12.9% | -7.7% | -6.9% |
Peers
The social media landscape is constantly changing and evolving, which can make it hard to keep up with the competition. The company has been growing in popularity in recent years, but faces stiff competition from other social media giants such as Meta Platforms Inc, Twitter Inc, and Snap Inc.
– Meta Platforms Inc ($NYSE:TWTR)
Twitter, Inc. is an American microblogging and social networking service on which users post and interact with messages known as “tweets”. Registered users can post, like, and retweet tweets, but unregistered users can only read them. The company was founded in March 2006 by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams and has more than 24,000 employees.
– Twitter Inc ($NYSE:SNAP)
Snap Inc has a market cap of 15.45B as of 2022. The company has a Return on Equity of -20.9%. Snap Inc is a camera company. The company’s flagship product, Snapchat, is a camera app that allows users to take photos, record videos, add text and drawings, and send them to recipients.
Summary
Pinterest‘s second quarter of FY2023 financial results show a 6.3% year-over-year increase in total revenue to USD 708.0 million. Although the company reported a net loss of USD 34.9 million, this was an improvement on the previous quarter’s net loss of USD 43.1 million. Investors will take comfort from the positive revenue growth and the narrowing of losses, suggesting that the company is on track to turn a profit in the future. With plans to invest in more user-friendly features and technologies, there is potential for Pinterest’s user base and revenue to continue to grow in the coming quarters.
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