By Yasin Ebrahim
Investing.com – Pinterest (NYSE:PINS) stock jumped afterhours trading Wednesday as the arts and crafts platform handily beat first-quarter estimates after stepping up the pace of the monetization.
Pinterest was up more than 8% in recent afterhours trading.
The company reported adjusted earnings per share of 10 cents on revenue of $574.89 million, beating expectations for adjusted EPS of 3 cents on revenue of $572.0 million.
Global monthly active users, or MAUs, decreased 9% year over year to 433 million, but global average revenue per user, or ARPU, jumped 28% $1.33 from a year earlier.
Looking ahead to the second quarter, the company said it expected revenue will grow around 11% year over year, while operating expenses were expected to grow around 10% quarter-over-quarter in Q2.
For the full year, operating expenses was forecast to grow between 35% and 40% year-over-year as Pinterest said it would "ramp up investments in its native content ecosystem, core Pinner experience, shopping, and headcount across research and development and sales and marketing."