Social commerce platform Pinterest (NYSE: PINS) reported Q1 CY2026 results topping the market’s revenue expectations, with sales up 17.8% year on year to $1.01 billion. Guidance for next quarter’s revenue was better than expected at $1.14 billion at the midpoint, 2% above analysts’ estimates. Its non-GAAP profit of $0.27 per share was 24.7% above analysts’ consensus estimates.
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Pinterest (PINS) Q1 CY2026 Highlights:
- Revenue: $1.01 billion vs analyst estimates of $964.7 million (17.8% year-on-year growth, 4.4% beat)
- Adjusted EPS: $0.27 vs analyst estimates of $0.22 (24.7% beat)
- Adjusted EBITDA: $206.5 million vs analyst estimates of $176.3 million (20.5% margin, 17.1% beat)
- Revenue Guidance for Q2 CY2026 is $1.14 billion at the midpoint, above analyst estimates of $1.12 billion
- EBITDA guidance for Q2 CY2026 is $266 million at the midpoint, above analyst estimates of $258.7 million
- Disclosed in January that it would cut nearly 15% of the company’s workforce and reduce office space as it pushes more into artificial intelligence
- Operating Margin: -8%, down from -4.1% in the same quarter last year
- Free Cash Flow Margin: 30.9%, up from 28.8% in the previous quarter
- Monthly Active Users: 631 million, up 61 million year on year
- Market Capitalization: $11.64 billion
Company Overview
Created with the idea of virtually replacing paper catalogues, Pinterest (NYSE: PINS) is an online image and social discovery platform.
Revenue Growth
A company’s long-term sales performance can indicate its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Over the last three years, Pinterest grew its sales at a solid 15.6% compounded annual growth rate. Its growth surpassed the average consumer internet company and shows its offerings resonate with customers, a great starting point for our analysis.
This quarter, Pinterest reported year-on-year revenue growth of 17.8%, and its $1.01 billion of revenue exceeded Wall Street’s estimates by 4.4%. Company management is currently guiding for a 14.5% year-on-year increase in sales next quarter.
Looking further ahead, sell-side analysts expect revenue to grow 11.5% over the next 12 months, a deceleration versus the last three years. Despite the slowdown, this projection is above the sector average and implies the market is forecasting some success for its newer products and services.
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Monthly Active Users
User Growth
As a social network, Pinterest generates revenue growth by increasing its user base and charging advertisers more for the ads each user is shown.
Over the last two years, Pinterest’s monthly active users, a key performance metric for the company, increased by 11.2% annually to 631 million in the latest quarter. This growth rate is strong for a consumer internet business and indicates people love using its offerings. 
In Q1, Pinterest added 61 million monthly active users, leading to 10.7% year-on-year growth. The quarterly print isn’t too different from its two-year result, suggesting its new initiatives aren’t accelerating user growth just yet.
Revenue Per User
Average revenue per user (ARPU) is a critical metric to track because it measures how much the company earns from the ads shown to its users. ARPU can also be a proxy for how valuable advertisers find Pinterest’s audience and its ad-targeting capabilities.
Pinterest’s ARPU growth has been decent over the last two years, averaging 5.5%. Its ability to increase monetization while effectively growing its monthly active users demonstrates the value of its platform. 
This quarter, Pinterest’s ARPU clocked in at $1.61. It grew by 5.9% year on year, slower than its user growth.
Key Takeaways from Pinterest’s Q1 Results
We were impressed by how significantly Pinterest blew past analysts’ EBITDA expectations this quarter. We were also happy its revenue outperformed Wall Street’s estimates. Looking ahead, both revenue and EBITDA guidance for next quarter exceeded expectations. Zooming out, we think this was a very good print. The stock traded up 16.8% to $23.81 immediately after reporting.
Pinterest had an encouraging quarter, but one earnings result doesn’t necessarily make the stock a buy. Let’s see if this is a good investment. If you’re making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here (it’s free).
