Pinterest Showed No Growth In Active Users And Lower Revenue Intake During Q2 Of 2022

Pinterest has recently published its earnings reports for Q2 of this year and according to that, the performance wasn’t quite up to the mark.

The firm showed zero growth in its active users and a lower than predicted value for revenue too.

Despite all of these findings, analysts continued to see great positivity in terms of the figures achieved. This is especially true, considering the fact that they went above the expectations of some who felt the firm would perform worse or maybe considering the fact that the economic downturn is in full swing.

As you know, all leading social media apps have reported a downfall, and how the current situation around the world has really impacted so many social media apps.

Pinterest showed the same number of active users that were seen in Q1 so no growth there, where figures remained unchanged at 433 million.

The pandemic had more people move toward the era of shopping online and that’s why at that time, things were working well in the app’s direction.

With the ease of such restrictions, people are more willing to go out and about to shop for their favorite articles, instead of relying on the app and that is what led to no growth.

It’s the best news for investors who hoped to see the app grow further, but we can understand where all these people are coming from. Considering how the current market conditions, we feel it’s not as bad as things could have been.

The largest loss of users was witnessed across Europe and again, no major surprises there.

This is related to the ongoing invasion of Russia into Ukraine, whose impacts are being felt by the rest of the world, either directly or indirectly. And the tech world is no exception.

Moving on to some positive news, the biggest growth was witnessed in Latin America, and that also is the place where the app hopes to maximize its e-commerce venture, taking on board other regions like India and even Indonesia.

Latin America is home to around 80 million users of the app, and when compared to users in places like America, they’ve got plenty of catching up to do.

Pinterest is also quite busy right now in terms of rolling out specific ads across the app to various regions. Hence, it’s got plenty of plans to expand further. And that’s also one of the many reasons why investors are liking the sound of that, remaining optimistic about the future.

Other than that, we saw the Elliot Investment Group take a staggering 9% share of the firm, making it the app’s largest investor. And keeping in mind this company’s previous track record, Pinterest must be doing something right.

The group only invests in those projects that it feels has the potential to grow and succeed.

Pinterest is improving its revenue. The app managed to generate $666 million, which is a 9% increase from last year.

Hence, the potential for growth is there and so far, the app is doing a pretty decent job at aligning with the market conditions.

Read next: Pinterest Rolls Out New Shuffles App That Inspires People To Use Their Own Creativity
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