The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Image-sharing company Pinterest Inc beat Wall Street estimates for quarterly revenue on Thursday, benefiting from heavy advertising by e-commerce retailers during the holiday season.
Ad spending has rebounded from a slump during the early months of the COVID-19 pandemic as retailers turn to the web to attract home-bound customers, boosting revenues of companies such as Alphabet Inc’s Google and Facebook Inc.
The shift to virtual interactions has also increased engagement on social media platforms, with Pinterest’s monthly active users jumping 37 percent to 459 million in the fourth quarter.
“We welcomed over 100 million additional monthly active users to Pinterest in 2020, more than any other year in our history,” Chief Executive Officer and co-founder Ben Silbermann said in a statement.
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Pinterest’s revenue from the United States, its biggest market, surged 67 percent to $582 million.
Total revenue soared 76 percent to $706 million, beating analysts’ estimates of $645.6 million, according to Refinitiv IBES data.
By Munsif Vengattil
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.