Pinterest, Inc. · PINS · FY2025 Q4 · Calendar Q1 2026

Pinterest’s user growth and AI momentum meet weaker ad revenue

The quarter supports a mixed case: record user growth and AI-driven discovery offer engagement and ad-product opportunities, but retailer pullbacks, tariff exposure and weaker ad pricing temper confidence that demand will translate cleanly into revenue growth.

Reported After market closeNYSECommunication Services $10.97B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $0.67 Consensus $0.66
EPS surprise +1.5% Reported versus consensus
Reported revenue $1.32B Consensus $1.33B
Revenue surprise -0.8% Reported versus consensus

Market reaction

event-close to next-session close
Stock move -16.8% Event window
SPY move +0.1% Same window
Abnormal move -16.9% Stock minus SPY
Volume 4.0× Versus trailing sessions
Subsequent drift +18.5% Up to 20 sessions
PINSSPY benchmark

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Transcript intelligence

What changed

Management analysis describes Q4 revenue growth as slowing amid tariff-related pressure and lower spending by large retailers. User growth remained strong, and management emphasized AI models and a broader advertiser mix as responses; the supplied analysis also cites planned TV Scientific integration as an expansion into connected-TV advertising.

Guidance delta

Guidance sentiment was characterized as maintained. The supplied analysis says Q1 2026 revenue growth guidance was 11–14%, with modest cost pressure and a 100-basis-point EBITDA margin impact associated with the pending TV Scientific acquisition.

Key takeaways

  • MAUs grew 12% year over year to 619 million, according to the supplied transcript analysis.
  • Revenue was $1.319 billion, below the $1.330 billion estimate; reported EPS was $0.67 versus a $0.66 estimate.
  • AI models and visual discovery remain central to management’s product and ad-performance plans.
  • Tariff-related headwinds and reduced spending from large retailers weighed on revenue growth.
  • The pending TV Scientific acquisition brings integration, approval and near-term margin considerations.

Management priorities

  • Scale AI models and Pinterest Assistant to support discovery and engagement.
  • Broaden the advertiser base across SMB, mid-market and international customers.
  • Improve Performance Plus and related ad tools.
  • Integrate TV Scientific, subject to regulatory approval, and expand connected-TV advertising.
  • Invest in GPU capacity while pursuing cost-of-revenue efficiency.

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Earnings History

Estimate Beat Miss Match
PINS REVENUE earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q2 '24 estimate $849M Q2 '24 actual $854M, beat Q3 '24 estimate $896M Q3 '24 actual $898M, beat Q2 '25 estimate $975M Q2 '25 actual $998M, beat Q3 '25 estimate $1B Q3 '25 actual $1B, match Q4 '25 estimate $1B Q4 '25 actual $1B, miss Q1 '26 estimate $966M Q1 '26 actual $1B, beat Q2 '26 estimate $1B Q2 '26 actual $1B, beat Q3 '26 estimate $1B Q3 '26 actual $1B, miss Q4 '26 estimate $1B Q1 '27 estimate $1B Q2 '27 estimate $1B Q3 '27 estimate $1B
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Analyst Consensus ?

ConsensusBuy48 ratings
Bullish2654.2%
Neutral2143.7%
Bearish12.1%

Analyst 52W Price Targets

$20.31Current
$16Low
$31.7Average
$100High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 3, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Wells Fargo Overweight OverweightMaintainOct 30, 2026
Wedbush Neutral NeutralMaintainOct 30, 2026
UBS Buy BuyMaintainOct 30, 2026
Susquehanna Positive PositiveMaintainOct 30, 2026
StoneX Buy BuyMaintainOct 30, 2026
Show 43 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $20.31. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
KeyBancJustin Patterson$25$19.36 +23.1%Nov 2, 2026
BernsteinMark Shmulik$22$18.41 +8.3%Oct 30, 2026
RBC CapitalBrad Erickson$22$18.42 +8.3%Oct 30, 2026
Cantor FitzgeraldDeepak Mathivanan$23$18.32 +13.2%Oct 30, 2026
GuggenheimMichael Morris$22$19.91 +8.3%Oct 30, 2026
See 152 more

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Company context

Snapshot as of publication

Pinterest, Inc. functions globally as a platform dedicated to visual discovery. Its core purpose is to empower individuals to unearth inspiration for various aspects of their lives, encompassing everything from culinary creations and personal style to home decor and do-it-yourself ventures. The platform facilitates this through diverse content formats, including video, product, and concept-based "Pins." Leveraging sophisticated visual machine learning, Pinterest provides personalized recommendations tailored to each user's unique preferences and interests. Established in 2008, the company was initially known as Cold Brew Labs Inc. before officially changing its name to Pinterest, Inc. in April 2012. Its corporate headquarters are located in San Francisco, California.

Historical context

All PINS earnings

Communication Services peers this season

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RDDT Reddit, Inc. FY2026 Q3 · Calendar Q4 2026 +5.3% -29.2% Reddit posts strong Q3 growth, but search traffic raises user-growth risk

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. Polygon adjusted daily market bars · 2026-11-03T01:10:41.873243+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-03T01:10:41.870208+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-11-03. For educational purposes only; not investment advice.