February 6, 2020 / 9:06 PM / 17 days ago

Pinterest beats quarterly revenue, user add estimates

Feb 6 (Reuters) - Pinterest Inc beat analysts' estimates for fourth-quarter revenue on Thursday, boosted by the online scrapbook company's efforts to attract more monthly active users.

The company has added augmented reality features to enhance visual search in its platform and entered markets such as Denmark, Norway, Switzerland in its attempt to drive user growth.

Monthly active users jumped 26% to 335 million globally, above analysts' expectation of 331.3 million, according to research firm FactSet

Total revenue surged 46% to $400 million, topping estimate of $371.2 million, according to IBES data from Refinitiv.

The company forecast 2020 revenue of up to $1.52 billion, while analysts were expecting $1.50 billion.

Pinterest generates revenue by placing ads on pins or posts that users, or "Pinners", upload to its platform.

The company said it achieved an adjusted EBITDA (earnings before interest, tax, depreciation and aromatization) basis in the fourth quarter and full-year 2019.

Reporting by Amal S in Bengaluru; Editing by Sriraj Kalluvila

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