Pinterest's Revenue Soared During the Pandemic

Yosepha Pusparisa 15/02/2021 19:01 WIB

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Pinterest ended Q4 2020 with soaring revenue during the Covid-19 pandemic. The company raked in US$705.6 million in Q4 2020, a 76% increase compared to Q4 2019.

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Pinterest Revenue (Quarterly)

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Pinterest, a social media platform that shares information through image and video-based pins, successfully reaped profits amidst the Covid-19 pandemic. The United States company closed the last quarter of 2020 with US$705.6 million, or Rp9.8 trillion (using an exchange rate of Rp13,900/USD). Its revenue increased by 76% compared to the same period the previous year.

This increase in Pinterest's revenue is inseparable from the soaring number of monthly active users in 2020. More than 100 million active users joined the social media platform, the largest increase in Pinterest's history, as cited from the company's press release.

According to Pinterest's Chief Financial Officer (CFO), Todd Morgenfeld, Pinterest's success in Q4 2020 was supported by continuous innovation. Furthermore, strong execution and an extended holiday season boosted Pinterest's revenue by 76%.

Editor : Muhammad Ahsan Ridhoi

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."