Pinterest exceeded Wall Street expectations for third-quarter revenue and profit, driven by an increase in advertising spending fueled by AI enhancements. The company's revenue rose 18% to $898.4 million, surpassing analysts' forecast of $896.4 million. Adjusted earnings per share reached 40 cents, exceeding estimates of 34 cents.
CEO Bill Ready noted that AI investments are enhancing user experiences and advertiser performance. Global monthly active users increased by 11% to 537 million, compared to an expected 531.5 million.
Looking ahead, Pinterest forecasts fourth-quarter revenue between $1.13 billion and $1.15 billion, aligning with market expectations.