Pinterest Stock Is Rising Wednesday: What's Happening?

Pinterest Inc PINS shares are trading higher Wednesday after the company reported strong first-quarter earnings results and issued upbeat guidance. Here’s what you need to know.

• Q1 Revenue: $740 million, beat estimates of $699.872 million

• Q1 EPS: Loss of 4 cents, beat estimates for a loss of 9 cents

Total revenues increased nearly 23% on a year-over-year basis. Pinterest's global monthly active users increased 12% year-over-year to an all-time high of 518 million. Average revenue per user grew 10% year-over-year to $1.46.

"Q1 was a milestone quarter for Pinterest as we reached new highs: surpassing half a billion monthly active users and reporting 23% revenue growth — our fastest user and revenue growth since 2021," said Bill Ready, CEO of Pinterest. 

"Thanks to our investments in AI and shoppability, we're driving even greater returns for advertisers and gaining access to performance budgets. We're executing with tremendous clarity and focus, shipping new products and experiences that users want, and in doing so, we're finding our best product market fit in years."

Outlook: Pinterest expects second-quarter revenue to be in the range of $835 million to $850 million versus estimates of $826.48 million. Second-quarter operating expenses are expected to be between $490 million and $505 million.

Following the print, Rosenblatt analyst Barton Crockett reiterated Pinterest with a Buy rating and raised the price target from $45 to $48.

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PINS Price Action: Pinterest shares were up 15.6% at $38.66 at the time of writing, according to Benzinga Pro.

Photo: Shutterstock.