Pinterest Reaches 661 Million Users as Q3 Revenue Growth Slows

What did Pinterest report in Q3 2026?

For the quarter ended September 30, monthly active users increased 10% to 661 million and revenue grew 12% to $1.174 billion, while GAAP net income fell 77% to $21.5 million; adjusted EBITDA increased 11% to $339 million.

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Why doesn't the record user count guarantee stronger monetization?

Global average revenue per user (ARPU) increased just 1% to $1.80; advertising impressions grew 17% but ad pricing declined 4%, while European revenue remained flat at $193 million and European ARPU fell 7%.

What caused Pinterest's revenue growth to slow?

Management attributed the six-percentage-point deceleration in year-over-year revenue growth from 18% in Q2 to 12% in Q3 to European cross-border seller pullbacks following the EU de minimis exemption change (approximately three points), advertising-spend timing around Prime Day and the World Cup (two points), and foreign exchange (one point).

Why did PINS shares fall after the earnings announcement?

Q3 revenue of $1.174 billion missed the $1.21 billion analyst consensus, while adjusted earnings per share of $0.46 missed the $0.49 estimate; Pinterest also forecast Q4 revenue growth of 8%-12%, and shares fell 9.6% in after-hours trading, according to Investing.com.

What should Pinterest investors watch in Q4 2026?

Management expects cross-border seller weakness to continue weighing on international revenue and says its international sales restructuring will not fully offset that pressure in Q4; non-GAAP cost of revenue is also expected to increase at a low-teens sequential rate, partly because of GPU capacity investments.