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Pinterest revenue grows 9% thanks to US and Canada

Pinterest, a leading photo-sharing social media platform, said the number of monthly users (MAUs) grew 4 percent in 2022 to 450 million.
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The global mobile app users, which account for over 80 percent of the impressions and revenue, grew 14 percent.

“Our US and Canada mobile app users grew 5 percent, accelerating from last quarter. Sessions grew significantly faster than users, demonstrating deepening engagement per user as we focus on driving greater per-user monetization,” Pinterest CEO Bill Ready said during the earnings report.

Pinterest has reported revenue of $877 million (+4 percent) in Q4 and $2.803 billion (+9 percent) in 2022. United States and Canada contributed revenue of $2.309 billion in 2022, while its revenue from Europe and other markets was $398 million and $95 million, respectively.

Pinterest has 95 million users in the US and Canada, 124 million in Europe and 231 million in other markets.

“Nearly half of all new videos pinned in Q4 were from Gen Z users. And in Q4, Gen Z sessions grew much faster than sessions from our other demographics. We remain focused on growing our supply of videos from multiple sources, including creators, brands, and publishers,” Bill Ready said.

Last quarter, Pinterest grew its supply of video content 30 percent quarter over quarter. Pinterest recently announced a deal with Conde Nast Entertainment to create high-quality video content aligned with Pinterest’s key seasonal and cultural moments like fashion month, wedding season, summer, and back to school.

“While we’re seeing more than 10 percent of our engagement is on video, it’s more than 30 percent of our revenue is on short-form video.”

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