San Francisco, California – Pinterest, the popular social media platform, recently held its quarterly earnings conference call to discuss its performance in the first quarter of 2024. The company saw significant growth in users and engagement, as well as improvements in shopability and AI technology, leading to a positive outlook for the future.

During the call, Pinterest CEO Bill Ready highlighted the company’s achievements in accelerating progress against strategic priorities, including growing users and engagement, creating value for advertisers, and driving profitable growth through operational efficiency. The company reached a record high of 518 million global monthly active users, with a 12% growth rate and strong revenue of $740 million.

One key focus for Pinterest has been on enhancing shopability and lower funnel revenue opportunities. The company introduced improvements in AI technology to drive personalization and curation, as well as new features like direct links for advertisers. These efforts have led to a significant increase in performance metrics and a shift towards more performance-based budgets for advertisers.

Additionally, Pinterest has recently entered into partnerships with third-party platforms like Amazon and Google to complement its first-party advertising efforts. These partnerships aim to fill gaps in the auction, increase relevancy, and drive higher engagement for users. The company is optimistic about the potential for further growth and innovation in international markets through these partnerships.

Looking ahead, Pinterest remains focused on continuing to deliver value for users and advertisers, leveraging its unique position in the social media landscape. The company sees opportunities for expansion and growth through ongoing investment in technology, partnerships, and strategic initiatives. With a strong performance in the first quarter, Pinterest is well-positioned for continued success in the future.