Pinterest, the Dream amongst the Kardashian cousins (ie the least famed of all social media platforms), is finally having its spotlight moment after reporting quarterly earnings that massively surpassed analysts’ expectations.
Shares of the image-sharing platform (PINS) jumped 20% on Friday after it released its Q4 earnings results, which reported $706m of revenues – way higher than the $646m estimated by analysts, and a 76% increase from the same period last year.
In 2020 alone, the firm added over 100 million monthly active users, indicating that they probably have coronavirus lockdowns to thank for their user growth. It’s not a coincidence that other social media companies experienced similar trends in activity during this time.
Did the market really underestimated them, or did they just get lucky?