The internet company Pinterest has positively surprised investors: In the fourth fiscal quarter of 2023, the company was able to report an impressive increase in profits.
The earnings per share increased from 0.290 US dollars to 0.53 US dollars, thus significantly exceeding the analysts' expectations, who had previously anticipated an EPS of 0.510 US dollars.
Pinterest Also Performed Better in Terms of Revenue Compared to Last Year. Experts Had Expected Quarterly Revenue of $990.7 Million, but Actual Revenue Came in at $981.262 Million.
In comparison to the same period last year, in which the internet company generated 877 million US dollars, Pinterest was thus able to record solid growth.
For the entire fiscal year 2023, Pinterest was also able to present impressive results: The company achieved a profit of $1.09 per share, compared to just $0.62 in the previous year. This also exceeded the expectations of analysts, who had forecast an EPS of $1.07.
The total revenue for the year 2023 was $3.055 billion, compared to $2.80 billion the previous year. Although this figure was slightly below the experts' expectations of $3.06 billion, Pinterest was thus able to record a successful year.
The market situation, however, does not necessarily reflect Pinterest's positive result. Pinterest's stock closed on Friday at the US stock exchange NYSE with a loss of 9.5 percent at 36.85 US dollars.
Nevertheless, the company remains confident and emphasizes that the figures reflect a positive development despite this short-term reaction from investors.
