Pinterest shares soar 18% on earnings beat, strong revenue growth [Video]

Shares of Pinterest popped 18% in extended trading Tuesday after the company reported first-quarter results that beat analysts’ estimates and showed its fastest revenue growth since 2021.

Here’s how the company did, compared to LSEG analyst expectations:

• Earnings per share: 20 cents adjusted vs. 13 cents expected
• Revenue: $740 million vs. $700 million expected

Revenue for the quarter jumped 23% from $602.6 million a year earlier. Pinterest’s net loss for the first quarter narrowed to $24.8 million, or a 4 cent loss per share, from $208.6 million, or a 31 cent loss per share, a year earlier.

Pinterest reported 518 global monthly active users (MAUs) for the first quarter, up 12% year over year. Wall Street was expecting MAUs 504.9 million, according to StreetAccount. Pinterest said Generation Z is its fastest-growing, largest and most engaged demographic on the platform.

The company’s average revenue per user was $1.46 for the period, while StreetAccount was expecting $1.40 per user.

In its first-quarter release, Pinterest …