Pinterest exceeded Wall Street's fourth-quarter earnings estimates, reporting revenue of $1.15 billion and a net income of $1.85 billion, which included a deferred tax benefit. The company saw a 18% year-over-year increase in revenue and a 11% growth in global monthly active users to 553 million. Pinterest CEO Bill Ready attributed the strong performance to the company's strategy of focusing on actionable content and driving results for both users and advertisers.
Pinterest reported fourth-quarter sales of $1.15 billion, ahead of the $1.14 billion that Wall Street was expecting. Revenue for Pinterest 's fourth quarter jumped 18% year over year, while net income was $1.85 billion, which included the deferred tax benefit. Pinterest said its fourth-quarter adjusted earnings per share was 56 cents. That figure is not comparable to analysts' estimates because the company recorded a deferred tax benefit of $1.6 billion in the fourth quarter.
The company's fourth-quarter adjusted EBITDA margin was 41%, which was higher than the 39% Wall Street was projecting. The company said global monthly active users grew 11% year over year to 553 million in the fourth quarter. That was ahead of Wall Street estimates of 547.4 million. Pinterest's fourth-quarter global average revenue per user came in at $2.12, higher than analysts' expectations of $2.09.
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