Pinterest climbs 11% after beating revenue and earnings estimates, adding 100 million active users in 2020

Pinterest climbs 11% after beating revenue and earnings estimates, adding 100 million active users in 2020

Shares of Pinterest climbed as much as 11% on Friday after the company announced a strong quarter, beating analyst estimates for revenue and earnings.

San Francisco-based Pinterest saw revenues of $706 million for the quarter that ended in December, up 76% year-over-year. And EPS came in at $0.30 per share, compared to consensus analyst estimates of $0.18.

Pinterest also managed to turn in a net income of $207 million in the quarter, a huge jump from the $35 million loss it posted in the year-ago period.

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The company has seen consistent tailwinds amid the pandemic as potential customers spend more time online, resulting in a booming share price over the last six months, up 136%, and a whole fleet of new customers.

"We welcomed over 100 million additional monthly active users to Pinterest in 2020, more than any other year in our history, and now we reach more than 450 million monthly active users around the world. I'm proud of our company and the inspiration we've been able