Pinterest Sees Fourth-Quarter Revenue of $1.425 Billion to $1.475 Billion, Slower Growth

Key Facts

Pinterest said on October 29 that third-quarter revenue, for the period ended September 30, 2026, was $1.174 billion, up 12% year over year, and forecast fourth-quarter revenue of $1.425 billion to $1.475 billion, equivalent to year-over-year growth of 8% to 12%. Chief Executive Bill Ready said third-quarter revenue came in below the company’s expected range, adding: "We are not satisfied with this result." The results showed a contrast between a broader user base and revenue growth on one hand, and pricing pressure and weakness in some international markets on the other. The company expected reduced spending by cross-border e-commerce sellers to continue weighing on international revenue growth in the fourth quarter. Reuters reported that the stock fell about 8% in trading on Friday, October 30, following the results and guidance.

The company reported third-quarter GAAP net income of $21.515 million, down 77% year over year, while free cash flow was $300 million. Meanwhile, global monthly active users reached a record 661 million, up 10% from the same period. Ready linked the record to revenue growth, saying the company reached 661 million monthly active users as revenue grew 12% year over year. But audience growth did not translate into revenue at the same pace in every region, with performance differing between North America and Europe.

Revenue in the United States and Canada was $894 million, up 14% year over year, while Europe posted revenue of $193 million, nearly unchanged from the prior year. Management said a larger-than-expected pullback by cross-border e-commerce sellers after the change to Europe’s tariff exemption contributed to the pressure on growth. Those sellers cut advertising spending, contributing to a sequential slowdown in global revenue growth. Management also cited timing factors, including the timing of Prime Day and the World Cup, as well as foreign-exchange movements. It expected the pullback by cross-border sellers to continue affecting international revenue in the fourth quarter.

At the advertising level, impressions rose 17% compared with the third quarter of the prior year, but ad prices fell 4%. This divergence means that an increase in ad volume did not prevent a decline in average pricing, while European revenue remained nearly flat. The company gave fourth-quarter revenue guidance equivalent to year-over-year growth of 8% to 12%, with international pressure related to cross-border e-commerce sellers continuing. In the market, PINS closed at $19.92 on October 29, compared with a previous close of $20.92 on October 28; Reuters reported a fall of about 8% in trading on Friday, October 30, after the results were announced.