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Should Investors Worry About Pinterest’s Slowing User Growth?



The virtual pinboard network could face a tougher post-pandemic slowdown than its social networking peers.

Pinterest (NYSE:PINS) recently posted its first-quarter earnings. The social media company’s revenue soared 78% year-over-year to $485.2 million, beating estimates by $10 million and marking its strongest growth since its IPO two years ago.

On the bottom line, it posted a non-GAAP net profit of $78.5 million, compared to a net loss of $59.9 million a year earlier, while its non-GAAP EPS of $0.11 beat expectations by four cents. Its adjusted EBITDA also improved from a loss of $53.3 million a year ago to a profit of $83.8 million.

Pinterest's iPad app.

Image source: Pinterest.

Those headline numbers were impressive, but Pinterest’s stock sank after its monthly active user (MAU) growth missed expectations and it forecast even slower MAU growth in the second quarter. Should investors worry about that slowdown, or does the dip represent a buying opportunity?

Tracking Pinterest’s user growth

Pinterest’s MAUs rose 30% year-over-year to 478 million, which missed the consensus forecast of 480.5 million MAUs and represented its slowest user growth in four quarters:


Q1 2020

Q2 2020

Q3 2020

Q4 2020

Q1 2021

MAUs (Millions)






Growth (YOY)






Data source: Pinterest. YOY = Year-over-year.

Pinterest’s MAU growth accelerated throughout the pandemic as stay-at-home measures caused more people to search for fashion, cooking, education, and other hobbies on its virtual pinboards. However, Pinterest’s MAU growth in the U.S. still stalled out at 98 million over the past three quarters. It offset that slowdown with the growth of its overseas MAUs, who now account for 79% of its total MAUs.


Q1 2020

Q2 2020

Q3 2020

Q4 2020

Q1 2021

US MAUs (Millions)






Growth (YOY)






International MAUs (Millions)






Growth (YOY)






Data source: Pinterest. YOY = Year-over-year.

That shift is troubling because Pinterest generates much lower average revenue per user (ARPU) from its international users. That’s why its international users still only generated 20% of its first-quarter sales.

Pinterest’s total ARPU increased 34% year-over-year to $1.04 during the first quarter. Its U.S. ARPU rose 50% to $3.99, while its international ARPU jumped 91% to $0.26. Pinterest intends to increase its international ARPU as it expands into new markets in Latin America and Asia, but it should still generate much higher revenue from its domestic users for the foreseeable future.

Expectations for a post-pandemic slowdown

Pinterest expects its global MAUs to only grow in the “mid-teens” in the second quarter of 2021, with flat year-over-year growth in U.S. MAUs. That forecast suggests it could actually lose two million MAUs in the U.S. on a sequential basis. It didn’t offer any forecasts for its overseas growth.

Pinterest's shoppable pins.

Image source: Pinterest.

During the conference call, CEO Ben Silbermann said the pandemic brought more users to Pinterest, but that “as pandemic lockdowns were eased in some parts of the world during mid-March, we began to see signs of less engagement and user growth on Pinterest, and we assume this means people are spending more time off-line.”

Pinterest still expects its revenue to grow 105% year-over-year in the second quarter, but it will benefit from an easy comparison to its 4% growth in the year-ago quarter — which bore the initial impact of the pandemic. Those comparisons will become more challenging in the second half of the year, and analysts expect its revenue to rise 52% for the full year.

As Pinterest’s MAU growth decelerates, it plans to increase its operating expenses by the “mid-teens” sequentially in the second quarter to ramp up its marketing campaigns and other long-term initiatives.

CFO Todd Morgenfeld warns that its new marketing campaigns will “drive a substantial or sizable increase” in its variable spending and potentially throttle its earnings growth. That spending could make it tough for Pinterest to meet Wall Street’s rosy expectations for 119% earnings growth this year.

The road ahead

I own shares of Pinterest, but its slower MAU growth and its plans for higher spending indicate it will face a tougher post-pandemic slowdown than Snap (NYSE:SNAP) and Facebook (NASDAQ:FB), which both recently posted strong quarterly growth with rosy forecasts for the future.

Pinterest gained a lot of users as they stayed home and searched for hobbies or interests online, but that interest could fade as the pandemic passes.

Pinterest still has plenty of growth potential, especially in the social commerce market, but the next few quarters could be challenging as it attempts to gain more U.S. users, monetizes its overseas users, and ramps up its spending to strengthen its brand and expand its ecosystem. Investors can consider nibbling on Pinterest after its latest pullback, but they should also expect a lot more volatility this year.


This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

Leo Sun owns shares of Pinterest and Snap Inc. The Motley Fool owns shares of and recommends Facebook and Pinterest. The Motley Fool has a disclosure policy.


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The World’s Most Popular Wedding Destinations, According To Pinterest



Blue coloured medina in Chefchaouen, Morocco.

According to Pinterest, Morocco is the number one place users want to plan a destination wedding.


Throughout the Covid-19 pandemic, Pinterest has been there to help us travel the world vicariously, find inspiration and share tips for visiting places that might otherwise be off limits to visitors. Now, as more people around the world are vaccinated and travel begins to make its inevitable comeback, the popular social media site is once again serving as a place to organize ideas for dream trips including epic honeymoons and destination weddings in beautiful places the world over.

A recent study by, a financial site based in the U.K., revealed the most commonly “pinned” wedding destinations around the world and in the U.S. that people have created Pinterest boards for.

Here are the results for the most popular wedding destinations around the world, by country, according to Pinterest users:

1. Morocco, with 1,001 dedicated Pinterest boards.

2. Greece, with 1,000 dedicated Pinterest boards.

3. France, with 999 dedicated Pinterest boards.

4. Italy, with 998 dedicated Pinterest boards.

5. Mexico, with 997 dedicated Pinterest boards.

6. Bali, with 996 dedicated Pinterest boards.

7. Ireland, with 990 dedicated Pinterest boards.

8. Australia, with 984 dedicated Pinterest boards.

9. New Zealand, with 981 dedicated Pinterest boards.

10. Fiji, with 979 dedicated Pinterest boards.

11. Canada, with 978 dedicated Pinterest boards.

12. England, with 977 dedicated Pinterest boards.

13. Ibiza, Spain, with 975 dedicated Pinterest boards.

14. Scotland, with 972 dedicated Pinterest boards.

15. Thailand, with 960 dedicated Pinterest boards.

16. Spain, with 956 dedicated Pinterest boards.

17. Portugal, with 889 dedicated Pinterest boards.

18. USA, with 821 dedicated Pinterest boards.

19. The Bahamas, with 732 dedicated Pinterest boards.

20. Wales, with 725 dedicated Pinterest boards.

Here’s a look at the results for the most popular wedding destinations in the U.S., according to Pinterest users:

1. California, with 1,003 dedicated Pinterest boards.

2. Colorado, with 1,000 dedicated Pinterest boards.

3. Florida, with 1,000 dedicated Pinterest boards.

4. Hawaii, with 1,000 dedicated Pinterest boards.

5. Virginia, with 998 dedicated Pinterest boards.

6. New York, with 997 dedicated Pinterest boards.

7. Texas, with 996 dedicated Pinterest boards.

8. Georgia, with 994 dedicated Pinterest boards.

9. Washington, with 993 dedicated Pinterest boards.

10. Arizona, with 988 dedicated Pinterest boards.

11. Maine, with 985 dedicated Pinterest boards.

12. Oregon, with 981 dedicated Pinterest boards.

13. Utah, with 978 dedicated Pinterest boards.

14. Montana, 977 dedicated Pinterest boards.

15. Maryland, with 976 dedicated Pinterest boards.

16. Ohio, with 973 dedicated Pinterest boards.

17. Tennessee, with 968 dedicated Pinterest boards.

18. Minnesota, with 949 dedicated Pinterest boards.

19. North Carolina, with 943 dedicated Pinterest boards.

20. Michigan, with 938 dedicated Pinterest boards.

To get the results, the folks at counted the number of public Pinterest boards associated with several keywords related to weddings and popular U.S. and international destinations. Pinterest users created boards for locales ranging from tropical islands and beaches to bustling cities as well as a blend of coastal and landlocked states, while Colorado, Florida and Hawaii tied with 1,000 boards, respecively. The study also focused on current trends, with Harry Potter, vintage, earthy, natural and farm themed weddings taking the top five spots for themed weddings, as well as popular wedding dress styles and bridal bouquets.

If you’re planning a destination wedding, pay attention to the Centers for Disease Control and Prevention (CDC) travel guidelines—as of this writing, all international travelers need to provide negative Covid-19 test results before they’re allowed to re-enter the U.S., whether or not you’re fully vaccinated—and stay on top of local health and safety protocols regarding mask-wearing and social distancing wherever you go.

All details and policies mentioned were accurate as of press time.

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Pinterest launches ‘You might just surprise yourself’ campaign



Pinterest has partnered with creative agency, Droga5 to launch its latest campaign ‘You might just surprise yourself’, exploring how the platform can expand people’s interests in ways they never saw coming.

To kick things off, Pinterest has released a TV ad in the UK, managed by agency Media Hub. The integrated campaign will run across the US and UK including high impact out-of-home, along with audio, podcast, and provocative social ads.

Directed by Yann Demange, the campaign’s hero film ‘Discovery’ – filmed in Mexico City and Los Angeles – takes the audience on a fast-paced journey of exploration focusing on one woman’s discovery before branching out into an unbroken, energetic thread of other characters’ experiences. 

A series of 15 films take this premise further, exploring the surprising leaps and ways people can expand their interests. These include a home chef discovering the fusion of burgers and sushi and a teenager trying his hand at flame nail art.

To expand the campaign across all media channels, high-impact mural out-of-home installations have been commissioned in London, New York, Chicago, and LA, along with high-impact media placements and unique brand partnerships to reintroduce the brand and spark inspiration in new ways. 

Pinterest has formed its first ever partnership with CRWNMAG, a hair and lifestyle culture magazine for Black women and NTWRK, a mobile-first video shopping platform that seamlessly blends entertainment and commerce.

“People need a place to dream, to explore and to visualize their future. Pinterest is the open invitation to try something you’d never thought you’d try. Our campaign demonstrates that Pinterest is a place where you can find a never-ending array of surprises – a place where the more you explore, the more you discover,” said Director of Marketing for Europe at Pinterest, Louise Richardson. “We want to bring people the inspiration to create a life they love and often that means inspiring you to try something new and giving you the confidence to try more, whether you succeed and it’s beautiful or you fail and it’s hilarious.”

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Morocco, Greece and France are dream wedding destinations, according to Pinterest




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Friday, 28 May 2021 09:24 AM MYT

Morocco tops a list of Pinterest users' dream destinations for getting married. ― Shutterstock pic via ETX Studio
Morocco tops a list of Pinterest users’ dream destinations for getting married. ― Shutterstock pic via ETX Studio

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NEW YORK, May 28 ― A new report based on data from social network Pinterest reveals the most attractive destinations for a wedding, according to pinners. Morocco takes first place, followed by Greece and France.

Does France still have the reputation of being the country of love and romance? The answer to that appears to be yes, according to the latest report put together by credit comparison company The report compiled Pinterest data and reveals the list of the most popular destinations for users. And, while ceremonies have been postponed due to the pandemic, brides and grooms-to-be or wannabes are still planning and dreaming. Many have created boards, to pin their favorite wedding destinations. The report has tallied them by destination and made a top 20.

An ambiance of lanterns and jewel tones is popular with Morocco in top spot. Next comes Greece, with its pretty cliffside villages. Then it’s France that climbs to the third step of the podium, probably largely thanks to Paris, with its enduring status as a city of romance. More beachy destinations such as Mexico, Bali and Fiji, also figure, landing respectively in 5th, 6th and 10th position. 

Top wedding destinations

1. Morocco

2. Greece

3. France

4. Italy

5. Mexico

6. Bali

7. Ireland

8. Australia

9. New Zealand

10. Fiji

11. Canada

12. England

13. Ibiza

14. Scotland

15. Thaïland

16. Spain

17. Portugal

18. USA

19. Bahamas

20. Wales

Meanwhile, when looking at states in the USA, California is on top with its varied landscapes and iconic cities.

Harry Potter is a top-trending theme

Fun fact: in the same report, users’ top themes are ranked. And perhaps surprisingly, a Harry Potter theme comes first, followed closely by “vintage.” In third place, is “earthy wedding,” with visions of ceremonies held in the midst of nature. ― ETX Studio

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