"We welcomed over 100 million additional monthly active users to Pinterest in 2020, more than any other year in our history," Chief Executive Officer and co-founder Ben Silbermann said in a statement. The shift to virtual interactions has also increased engagement on social media platforms, with Pinterest's monthly active users jumping 37% to 459 million in the fourth quarter. Shares of the company jumped nearly 10% in extended trading as its first-quarter sales growth forecast of a rise in the low 70% range also beat Wall Street expectations of 56% growth.Īd spending has rebounded from a slump during the early months of the COVID-19 pandemic as retailers turn to the web to attract home-bound customers, boosting revenues of companies such as Alphabet Inc's (GOOGL.O) Google and Facebook Inc (FB.O). Feb 4 (Reuters) - Image-sharing company Pinterest Inc (PINS.N) reported better-than-expected quarterly results on Thursday, benefiting from strong user growth and heavy advertising by e-commerce retailers during the holiday season.
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