Social Media Projected To Lead Global Ad Spend In 2021

Revenue increased 66% YoY to $770 million versus $740.89 million consensus. Non-GAAP EPS of $0.00 beat by $.05 and GAAP EPS of $(0.19) beat by $0.01. Global DAUs grew to 280 million, up 22% YoY, versus 274.5 million consensus.

ARPU was $2.74 versus $2.71 consensus. Net loss and Adjusted EBITDA were $(287) million and $(2) million in Q1 2021, compared to $(306) million and $(81) million in the prior year, respectively.

Operating cash flow improved by $131 million to $137 million in Q1 2021, compared to the prior year. The company also achieved its first quarter as a public company of positive free cash flow. Free Cash Flow improved by $131 million year-over-year to reach $126 million.

Common shares outstanding plus shares underlying stock-based awards totaled 1,629 million at March 31, 2021, compared to 1,589 million one year ago.

Looking forward, Q2 2021 revenue is estimated to be between $820 million to $840 million, up 80% to 85% YoY. Adjusted EBITDA is estimated to be between $(20) million and breakeven, compared to $(96) million in Q2 2020. Daily active users are expected to reach 290 million users, up 22% YoY.  

For the full year, the company plans to invest in its ad platform to drive improved relevance and ROI; scale sales and marketing to support global advertising partners; and build innovative ad opportunities, including video and AR.

Nearly 30% of consumers use mobile AR apps, with 59% reporting weekly use, according to a 2021 report by ARtillery Intelligence with Thrive Analytics.

report from Futurum Research sponsored by SAS puts the number of smartphone owners using AR at more than 50%, with 69% saying they expect to use AR/VR/MR this year to sample products, and 63% saying they would use the technology to visit a remove venue, location, or event this year.

Pinterest: US Growth Slows, International Strength Continues

For Q1 2021, Pinterest is guiding for revenue growth in the low 70% range YoY with non-GAAP operating expenses at a similar level compared to last quarter. The consensus estimate is $473 million in revenue, up 74% YoY, according to YCharts. 

For the full year, executives are expecting positive trends due to investments in new tools like shopping and automation; international expansion; and monetization into Latin America during the first half of the year, according to the last earnings report. Latin America is forecast to see 10.2% YoY growth in digital ad spending this year, after an 18.4% drop last year, according to the report from Dentsu.

Pinterest app downloads were up 26% YoY in February versus 13% YoY in March, according to data from SensorTower, which provides market insights for the global app economy.

In the U.S., downloads were up 5% YoY in February and down 5% YoY in March. Pinterest showed strong international growth, with international downloads up 29% YoY in February and 15% YoY in March.

For Q1 2021, Pinterest DAUs were up 14% YoY worldwide and 7% QoQ, according to data from SensorTower.

In the U.S., DAUs were up 6% YoY and down 2% QoQ., while international DAUs were up 17% YoY and 10% QoQ.

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Pinterest announced Wed that the existing partnership with Shopify has been extended to 27 additional countries, including Australia, Brazil, and the U.K. The company also added two new ecommerce features, multifeed support for catalogs and dynamic retargeting, which allows marketers to target individual consumers.

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