Pinterest, Inc. Provides Preliminary Earnings Guidance for the First Quarter Ended March 31, 2020; Withdraws Full Year 2020 Guidance Due to COVID-19 Uncertainty; Announces Management Changes
April 08, 2020 at 03:00 am IST
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Pinterest, Inc. provided preliminary earnings guidance for the first quarter ended March 31, 2020. For the quarter, based on information available to it through the date of this statement, the company expects revenue for the quarter ended March 31, 2020 in the range of $269 million to $272 million. For the quarter ended March 31, 2020, it also expects global monthly active users in the range of 365 million to 367 million, with 89 million to 90 million in the U.S. and 276 million to 277 million internationally.
The company is withdrawing the revenue and adjusted EBITDA margin guidance for full year 2020 that it initially issued on February 6, 2020. In light of the rapidly evolving and unpredictable effects of COVID-19, Pinterest is currently not in a position to forecast the expected impact of COVID-19 on its financial and operating results for the remainder of 2020. As the COVID-19 pandemic has continued to unfold, it has impacted Pinterest's advertising revenue globally.
The company also announced that Françoise Brougher, the Company's Chief Operating Officer, would be leaving Pinterest, effective as of April 7, 2020, and Todd Morgenfeld will assume her responsibilities.
Pinterest, Inc. is a visual search and discovery company. The Companyâs primary service, Pinterest, can be accessed through its mobile application or the Web. People use Pinterest to find ideas. As they browse Pinterest content, Pins, they fine-tune their tastes and find the idea. Users interact with the platform in multi-session journeys to find inspiration, curate their latest look, plan their next project and shop from brands. It has approximately 498 million monthly active users across the world. Content on Pinterest comes from a variety of sources, including retailers, brands, creators, publishers and users. It acquires that content via a range of methods, including product catalog uploads, direct publishing, and user curation. Content formats include images that allow the user to click into an idea to learn more, videos that provide the steps of an idea, and products that brands and merchants upload from catalogs.
Pinterest, Inc. Provides Preliminary Earnings Guidance for the First Quarter Ended March 31, 2020; Withdraws Full Year 2020 Guidance Due to COVID-19 Uncertainty; Announces Management Changes
PINTEREST, INC. 
