(Reuters) -Image-sharing platform Pinterest beat second-quarter revenue estimates on Tuesday as monthly active users surged and digital advertising rebounded from a downturn triggered by an uncertain economy.
Tech giants Meta Platforms and Alphabet’s quarterly results had also signaled a nascent recovery in ad spending by businesses, driven by signs of cooling inflation and improving consumer confidence.
Pinterest’s revenue for the quarter ended June 30 grew 6% to $708 million, compared with market estimates of $696.1 million, according to Refinitiv data.
Global monthly active users (MAUs) on the platform rose 8% to 465 million from a year ago, above estimates of 462.8 million.
Pinterest earned a quarterly adjusted profit of 21 cents per share, compared with 11 cents a year ago.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Devika Syamnath)
