Pinterest's Revenue Soars as Pandemic Boosts Engagement

By Sarah E. Needleman

Pinterest Inc. posted strong revenue and user growth in the third quarter, as the social-media company saw significantly greater pandemic-fueled engagement than it did in the spring and said it benefited from an advertiser boycott at Facebook Inc.

The image-sharing company that makes money exclusively through advertising sales said revenue rose 58% from a year earlier to $443 million, compared with 4% growth in the second quarter. Analysts surveyed by FactSet expected sales of $383 million.

An advertiser boycott against Facebook over the summer helped Pinterest, the company said. But it added that it isn't clear how long that trend will last, particularly after the U.S. presidential election takes place. Facebook and Twitter Inc. report third-quarter results Thursday.

Write to Sarah E. Needleman at sarah.needleman@wsj.com

(END) Dow Jones Newswires

October 28, 2020 16:21 ET (20:21 GMT)

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