Pinterest losses 24 million users in Q2

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 30, 2021, 3:38 AM GMT+0

Catalogue uploads increased by 50% from Q1 to Q2 of 2021 on Pinterest.

With vaccines being available and the reopening of physical stores, Pinterest has suffered a loss of 24 million users in the past three months. While the platform's earnings were steady in Q2 2021, users in the United States decreased 5% YoY.

Pinterest notes that last year's YoY monthly average user (MAU) was slightly inflated due to more users using the app because they spent more time in their homes. However, mobile app users grew more than 20% globally in Q2 2021, and shopping and search engagement is booming, as more people are discovering and buying products through the app.

The company’s revenue increased 613% million for the quarter, a 125% YoY increase, while its US revenue grew 107% YoY. Pinterest projects growth in the low-40% range YoY growth for Q3.

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