Your Full Guide To Creating an E-commerce in WordPress Effectively
Mony Shah, 4 hours ago
Pinterest has come up with its report for the third quarter of 2023. Pinterest’s revenue grew by 11% and reached $763 million in the quarter, and it has also managed to garner good results in terms of net income. These facts and statements show how the platform has witnessed a rise in the viewer base, relevance, and value.
Further, according to Pinterest reports, 17 million+ monthly active users or MAUs were added in the quarter. Currently, Pinterest has 482 million monthly active users. This is, so far, the highest MAU count Pinterest has had.
It’s evident from market studies and analysis that a massive boost in the online shopping trend causes the growth of this platform. The trend reached its pinnacle of growth during the lockdown period, and that continues to remain strong even now.
However, it has been challenging for Pinterest to achieve this growth. When the physical stores and amenities re-opened after the lockdown, there was a major slash in the number of Pinterest’s monthly active users. The platform lost as many as 47 million MAUs. So, recovering from that loss and bouncing back with a higher number has been definitely an achievement for Pinterest.
Pinterest has its primary user base in North America and earns the maximum revenue from the same territory. A distant second in the growth of this platform is the European Union. However, Mexico and Brazil are the two countries where the platform has experienced the maximum number of growths. In addition, the thriving results of Pinterest are consistent across the rest of the world.
Along with a steady rise in the revenue and number of users, Pinterest has also recorded a net income of $7 million net income (GAAP), and that’s a significant number, considering how the company faced a loss during that period in the last year. Moreover, Pinterest’s adjusted EBITDA for quarter three of 2023 was $185 million, which showed an excellent margin expansion.
More Resources:
sibashree bhattacharya
Sibashree has been into SEO and eCommerce content writing for more than 9 years. She loves reading books and is a huge fan of those over-the-top period dramas. Her favorite niches are fashion, lifestyle, beauty, traveling, relationships, women's interests, and movies. The strength of her writing lies in thorough research backing and an understanding of readers’ pain points.
