Pinterest Reports 18% Revenue Growth and Record Users

Pinterest announced an 18% revenue growth and record users in Q2 2026, but investors expressed disappointment due to slower growth expectations and increased ad competition.

PINS posted second-quarter 2026 revenue of $1.18 billion, up 18% year over year and above the $1.15 billion analysts expected, while adjusted earnings of $0.43 per share topped the $0.36 consensus. Global monthly active users climbed 11% year over year to a record 640 million.

Despite beating on both lines, shares fell roughly 8% in after-hours trading to around $23.60, a reaction that points to concerns beyond the headline numbers. Coverage tied the drop to expectations that quarterly revenue growth could slow as advertising competition intensifies across the social and retail media landscape.

Guidance for the third quarter calls for revenue of $1.19 billion to $1.21 billion, roughly in line with the $1.20 billion analysts had modeled, alongside adjusted EBITDA of $335 million to $355 million versus $311 million in Q2. That outlook implies a deceleration from the 18% pace just posted, which investors appear to be reading as a signal that easier prior-year comparisons and ad-spend tailwinds are fading.

To defend growth, Pinterest is leaning further into AI-driven ad tools meant to improve targeting and conversion for advertisers. Whether that investment can offset a more competitive ad market may determine if the stock's post-earnings pullback proves temporary or marks a reset in growth expectations.