Source: Pixabay | Photographer: FirmBee
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Shares of the social media platform rose by nearly 27% this Thursday upon announcing a stronger-than-expected financial performance despite the ongoing pandemic.
The great results showcase that business demand for ad services is alive and well in the second half of 2020. According to Aaron Goldman, chief marketing officer at advertising software company Mediaocean, “brands using the company’s closed ecosystems platform increased ad spending almost 40% year-over-year in the third quarter”.
Here are the main financial highlights from Pinterest’s Q3 2020 earnings release:
– Total revenue: $443 million (increase of 58% year-over-year). Of this amount, $374 million was generated in the U.S.
– Net loss: $94 million on a GAAP basis.
– Global monthly active users: the platform’s user base has grown 37% year-over-year (442 million users).
– Financial forecast for Q4: Pinterest estimates that it will achieve year-over-year revenue growth of 60%. However, the company warned investors that there is still a lot of uncertainty remaining around the pandemic and other factors.
Another reason for Pinterest’s strong quarter is that advertisers have started avoiding other popular ad platforms, such as Facebook and Twitter, due to the rapid and unmoderated spread of toxic content and misinformation.
“Advertisers want to be around positivity as they build their brands, and that’s contributing to our growth as well.”
Ben Silbermann, Pinterest CEO
Finally, consumers themselves have also contributed to the stellar results: sheltered at home from the pandemic, people use Pinterest and other social platforms to seek inspiration while working or practising their hobbies.
If the social platform’s performance is to be any indicator, the upcoming reports of other tech giants, such as Alphabet, Facebook, Twitter and Amazon, and particularly their ad revenue segments, have a good chance of also bringing positive news to investors.
Upcoming reports
See the full list of upcoming earnings reports for 2 – 6 November in the tables below.
Monday, November 2nd 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Mondelez International Inc | Q3 2020 |
| USA | SBA Communications Corp | Q3 2020 |
| USA | Williams Companies Inc | Q3 2020 |
| Switzerland | Transocean Ltd | Q3 2020 |
| USA | Henry Schein Inc | Q3 2020 |
| USA | Waste Management Inc | Q3 2020 |
| USA | FirstEnergy Corp | Q3 2020 |
| USA | Berkshire Hathaway Inc | Q3 2020 |
| Austria | Erste Group Bank AG | Q3 2020 |
Tuesday, November 3rd 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Progressive Corp | Q3 2020 |
| Canada | Thomson Reuters Corp | Q3 2020 |
| USA | Fox Corp | Q1 2021 |
| USA | Gannett Co Inc | Q3 2020 |
| USA | Mckesson Corp | Q2 2021 |
| USA | Sysco Corp | Q1 2021 |
| USA | Expeditors International of Washington Inc | Q3 2020 |
| Canada | Bausch Health Companies Inc | Q3 2020 |
| Ireland | Johnson Controls International PLC | Q4 2020 |
| United Kingdom | Mylan NV | Q3 2020 |
| USA | Exelon Corp | Q3 2020 |
| USA | Emerson Electric Co | Q4 2020 |
| United Kingdom | GW Pharmaceuticals PLC | Q3 2020 |
| Italy | Ferrari NV | Q3 2020 |
| United Kingdom | Associated British Foods PLC | Full year 2020 |
| Germany | Bayer AG | Q3 2020 |
| Germany | Hugo Boss AG | Q3 2020 |
| Kingdom of the Netherlands | Koninklijke DSM NV | Q3 2020 |
| France | BNP Paribas SA | Q3 2020 |
| Germany | Evonik Industries AG | Q3 2020 |
| USA | PayPal Holdings Inc | Q3 2020 |
Wednesday, November 4th 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Zynga Inc | Q3 2020 |
| USA | Allstate Corp | Q3 2020 |
| USA | Lannett Company Inc | Q1 2021 |
| USA | Expedia Group Inc | Q3 2020 |
| USA | Qualcomm Inc | Q4 2020 |
| USA | ACADIA Pharmaceuticals Inc | Q3 2020 |
| USA | Marathon Oil Corp | Q3 2020 |
| USA | Apache Corp | Q3 2020 |
| USA | Verisk Analytics Inc | Q3 2020 |
| USA | GoDaddy Inc | Q3 2020 |
| USA | Fitbit Inc | Q3 2020 |
| United Kingdom | Liberty Global PLC | Q3 2020 |
| USA | Hilton Worldwide Holdings Inc | Q3 2020 |
| Canada | Cameco Corp | Q3 2020 |
| China | Baidu Inc | Q3 2020 |
| USA | Wynn Resorts Ltd | Q3 2020 |
| Kingdom of the Netherlands | Koninklijke Ahold Delhaize NV | Q3 2020 |
| Germany | Hannover Rueck SE | Q3 2020 |
| Germany | Fraport AG Frankfurt Airport Services Worldwide | Q3 2020 |
| France | Credit Agricole SA | Q3 2020 |
| Norway | Mowi ASA | Q3 2020 |
Thursday, November 5th 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Exelixis Inc | Q3 2020 |
| USA | Inseego Corp | Q3 2020 |
| USA | Electronic Arts Inc | Q2 2021 |
| USA | Roku Inc | Q3 2020 |
| USA | Square Inc | Q3 2020 |
| USA | Tripadvisor Inc | Q3 2020 |
| USA | American International Group Inc | Q3 2020 |
| USA | GoPro Inc | Q3 2020 |
| USA | EOG Resources Inc | Q3 2020 |
| USA | Uber Technologies Inc | Q3 2020 |
| USA | News Corp | Q1 2021 |
| USA | Cloudflare Inc | Q3 2020 |
| USA | Booking Holdings Inc | Q3 2020 |
| USA | Yelp Inc | Q3 2020 |
| USA | Dropbox Inc | Q3 2020 |
| USA | Microchip Technology Inc | Q2 2021 |
| USA | Cigna Corp | Q3 2020 |
| USA | Dominion Energy Inc | Q3 2020 |
| USA | NRG Energy Inc | Q3 2020 |
| USA | Regeneron Pharmaceuticals Inc | Q3 2020 |
| USA | Liberty Media Corp | Q3 2020 |
| Canada | Barrick Gold Corp | Q3 2020 |
| USA | DISH Network Corp | Q3 2020 |
| China | Alibaba Group Holding Ltd | Q2 2021 |
| USA | Dentsply Sirona Inc | Q3 2020 |
| USA | Cardinal Health Inc | Q1 2021 |
| USA | HanesBrands Inc | Q3 2020 |
| USA | Zoetis Inc | Q3 2020 |
| USA | Stericycle Inc | Q3 2020 |
| USA | Bristol-Myers Squibb Co | Q3 2020 |
| Israel | Teva Pharmaceutical Industries Ltd | Q3 2020 |
| USA | Duke Energy Corp | Q3 2020 |
| USA | Discovery Inc | Q3 2020 |
| United Kingdom | Linde PLC | Q3 2020 |
| USA | Monster Beverage Corp | Q3 2020 |
Friday, November 6th 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Cheniere Energy Inc | Q3 2020 |
| Canada | Enbridge Inc | Q3 2020 |
| USA | Marriott International Inc | Q3 2020 |
| USA | CVS Health Corp | Q3 2020 |
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