Pinterest forecasted first-quarter revenue below Wall Street estimates, indicating tough competition from larger social media players. The company’s shares initially dropped over 9%, but losses were partially recovered after CEO Bill Ready announced an ad integration deal with Google. The deal enables Pinterest to serve ads through Google’s Ad Manager, aiding in monetizing international markets. Pinterest faces competition from platforms like TikTok, Facebook, and Instagram, which boast larger user bases and higher engagement for targeted ads. Pinterest’s Q4 revenue was $981.3 million, missing estimates of $990.6 million. The global monthly active users rose 11% to 498 million in Q4.
Pinterest’s Q1 revenue forecast falls short, CEO announces ad integration deal with google.
