Pinterest posted a revenue increase of 47% in Q3 2019 to $280 million, up from $190 million the previous year.
During the latest quarter, the hobby blogging site added 22 million new monthly active users. That’s an increase of 28% globally. Pinterest now has 322 million overall.
Outside of the US, Pinterest attracted 38% more users in Q3 2019. That shows a lot of potential for the platform to grow beyond its home turf.
In a shareholder letter, the company wrote that it “experienced double-digit growth in all international countries except Canada, Iceland, and New Zealand.”
Average revenues per user were up 14% globally and 127% internationally. Overall, revenues were bolstered by the company’s international expansion and its continued commitment to improve advertising features.
Pinterest revealed that its video-view objective, launched in August 2019 saw strong adoption. The company has also made it easier for merchants and retailers to showcase their inventory more effectively to users.
In Q3, it also launched additional tools for smaller advertisers such as simplified reporting and an expanded ad credit programme.
For 2019, the company expects total revenue to grow between 46% to 48% compared to 2018 driven by a rise in average revenue per user. Although much of this growth is coming from the US, the latest results demonstrate that Pinterest is making an impact globally.