First off, on customers – Pinterest added 13 million extra customers within the quarter, with its development momentum accelerating within the new 12 months.

It’s one thing of a return to kind – Pinterest had seen an enormous leap in utilization amid the pandemic, when lockdowns compelled all people to buy on-line, but it surely misplaced a lot of that development as bodily shops re-opened. Now, it’s clearly on a extra constructive trajectory as soon as once more, with customers in additional areas now additionally coming to the app.

Pinterest additionally says that it’s seeing extra engagement, with sessions, impressions, and time spent rising quicker than MAUs. And curiously, Pinterest additionally notes that Gen Z is now its quickest rising demographic, one other good signal for its future potential as a key discovery aspect.

By way of income, nevertheless, the story is just not as nice.

Pinterest introduced in $603 million for the interval, which is up year-over-year, however down on its 2022 outcomes. Like all social platforms, Pinterest is coping with the broader financial downturn, which has impacted advert spend, however the expanded utilization does bode effectively for its future potential.

As does this chart:

Pinterest nonetheless has a approach to go in maximizing its potential, with Pinterest adverts nonetheless within the means of being made obtainable in all areas. Because it boosts its worldwide presence, and with its product discovery focus, that ought to finally see it drive extra income from these areas, and the variance between North America and in every single place else does point out important development potential on this respect.

However proper now, the general declines will not be good, and the market will probably reply in type.

By way of key traits, Pinterest says that video content material grew almost 40% within the app within the interval, reflecting the broader development in direction of video throughout social platforms. Pinterest’s seeking to assist manufacturers faucet into this with enhancements to its Concept Pins, together with the addition of latest promotional choices, like Premiere Highlight, which allows manufacturers to purchase prime actual property o the Search tab.

It’s additionally seeking to present extra artistic potential with its separate collage-focused Shuffles app, which has gained traction in a number of markets.

Pinterest lately made Shuffles obtainable in additional areas, and the stand-out visuals, which hyperlink again to Pins, have clearly resonated with youthful audiences, forming a part of its elevated enchantment with Gen Z shoppers.

General, Pinterest is affected by the identical market circumstances which have damage the outcomes of all social apps, which have compelled mass lay-offs at Meta, Snapchat, Twitter and extra. Pinterest additionally lower 150 employees in February, round 5% of its complete workforce – but even so, its gross sales, advertising and marketing and admin prices have nonetheless elevated considerably year-over-year.

That would imply that extra cuts are coming, and because the market responds to those numbers, I might assume that this might be a eager focus in Q2.