On January 7, Pinterest reported revenues have reached $400 million for Q4 of 2019. This is a growth of 46% year over year, which exceeded analysts’ forecast of $371.2 million. The company’s annual revenue surpassed $1 billion, reaching $1.14, which is an increase of 51% over 2018.
Global monthly active users (MAUs) grew 26% year over year and reached 335 million up from 332 million in 2018. MAUs in the US market increased 8% to 88 million, which is up from 87 million from the previous year.
Q4 closed out with an impressive year, seeing Pinterest expanding into 21 new international advertising markets, according to Pinterest’s CFO Todd Morgenfeld. The revenue from those markets went up from 6% to 13% of total revenue for the fourth quarter. According to the company, this increase is a result of the platform’s increased focus on ad solutions for global advertisers.
Ben Silbermann, CEO of Pinterest, said that the platform’s investment in “properly implemented measurement” tools have been a big driver of its Q4 revenue. Conversion campaigns (which can be used with Checkout, Signup, Lead, or Add to Cart) grew 150% last quarter, seeing “a 2.5 times improvement in attributable conversions that we saw this Q4 versus a year ago,” said Morgenfeld. In the last half of 2019, feed-based Shopping ads revenue more than doubled compared to the first of the year. The number of monthly advertisers buying these ads grew 125%.