Image search services provider Pinterest, Inc (NYSE: PINS) has reported a sharp increase in adjusted profit for the second quarter of 2023 when its revenues rose by 6%.
Revenues increased across all geographical regions during the second quarter, driving the top line up by 6% year-over-year to $708 million.
The company’s net profit, adjusted for special items, climbed 91% year-over-year to $0.21 per share in the June quarter. On an unadjusted basis, it was a net loss of $34.9 million or $0.05 per share in Q2, compared to a profit of $43.1 million or $0.07 per share in the comparable period of 2022.
“Over the past year, we’ve been laser-focused on our key differentiators and we’re seeing results. Users are coming back more often and engaging more deeply, Pinterest is increasingly shoppable and actionable, and we’re delivering better and more measurable performance for our advertisers,” said Bill Ready, CEO of Pinterest.
