Key Takeaways from Pinterest Q1 2021 Report

The Pinterest Q1 2021 Report highlights significant updates for brands and advertisers, the platform's current standing in FY 2021, and more.

The Pinterest Q1 2021 Report also underlines the platform's strategic priorities for the rest of the financial year.

"This quarter, we continued strong growth internationally, including our recent launch of advertising in Brazil, and made significant progress with shopping, making it easier for people to discover and buy products they find on Pinterest", said Ben Silbermann, CEO, and Co-Founder, Pinterest.

"While we continue to navigate COVID-19 uncertainty, we plan to stay focused on driving investments that deliver an inspirational Pinner experience and measurable advertiser value", said Todd Morgenfeld, CFO and Head Of Business Operations, Pinterest.

Also Read: Pinterest and Shopify expand partnership to 27 new countries

Here are few highlights from the Pinterest Q1 2021 Report:

• Q1 revenue grew 78% year over year to $485 million. Continued growth the international business and increased adoption from medium and small advertisers has been cited to contribute to this revenue growth

• Global Monthly Active Users (MAUs) grew 30% year over year to 478 million

• Strategic priorities for 2021 have been prioritized with content, the Pinner experience, advertising, and shopping on the platform

• Pinterest's current expectation is that Q2 revenue will grow around 105% year over year

• In Q2, the platform expects global MAUs to grow in the mid-teens and US MAUs to be around flat on a year-over-year percentage basis

• R&D efforts would focus on Pinner product, ad product and measurement investments