Pinterest shares rose by 20% following the release of its fourth-quarter 2024 earnings, which exceeded analysts’ expectations.

The social media company reported US$1.15 billion in revenue, surpassing the anticipated US$1.14 billion, according to LSEG data.

Adjusted EBITDA for the quarter reached US$470.9 million, exceeding the projected US$444.8 million.

Pinterest’s adjusted earnings per share stood at 56 cents, though this figure included a deferred tax benefit of US$1.6 billion, making direct comparisons difficult.

Year-over-year, total quarterly revenue increased by 18%. Net income hit US$1.85 billion, driven largely by the tax benefit.

Recent Pinterest developments