EarningsQ2 2026 Earnings Report
MX:PINS Q2 2026 EPS Results
Actual EPS$7.72
Consensus EPS$6.41
Beat/MissBeat by +$1.31
One Year Ago EPS$5.93
MX:PINS Q2 2026 Revenue Results
Actual Revenue$21.19B
Expected Revenue$20.63B
Beat/MissBeat by +$563.32M
YoY Revenue Growth+18.17%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeAfter Close
Conference CallTuesday, August 4, 2026
MX:PINS Upcoming Earnings
Pinterest's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:PINS Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly constructive picture: strong user and revenue growth, expanding monetization in UCAN, improving adjusted EBITDA margins, robust free cash flow and meaningful AI-driven product progress (Pinterest Assistant, Performance+, open-source model cost advantages). At the same time, notable investments increased cost of revenue and operating expenses, Europe and broader international monetization are undergoing a deliberate multi-quarter transformation with near-term disruption, and several advertiser-facing initiatives remain early in their adoptive cycles. On balance, the positive operational and financial momentum, margin improvement and cash generation outweigh the execution and investment headwinds.Company Guidance
Record User Growth and Engagement
Reached 640 million global MAUs (up 11% YoY), 12th consecutive quarter of record users and 11th straight quarter of double-digit user growth overall; U.S. & Canada MAUs 106M (up 4%), Europe 157M (up 8%), Rest of World 377M (up 15%). Gen Z represents over half the user base and is the largest, fastest-growing cohort.
Strong Revenue Growth
Q2 revenue $1.180 billion, up 18% YoY (17% constant currency). Revenue exceeded $1B for the fourth consecutive quarter. UCAN revenue $880M (up 18%), Europe $213M (up 12% reported / 7% CC), Rest of World $87M (up 38% reported / 32% CC).
Improved Profitability and Cash Generation
Adjusted EBITDA of $311M with a 26% margin (up 130 basis points YoY). Q2 free cash flow $270M; trailing 12-month free cash flow nearly $1.3B with ~94% free cash flow conversion. Raised full-year 2026 adjusted EBITDA margin outlook to ~30% (from ~29%).
Monetization Momentum and Ad Product Wins
Ad impressions grew 16% YoY; ad pricing increased 1% YoY. Pinterest Performance+ adoption driving results (previously ~30% of lower-funnel revenue as of Q1; adopters grew lower-funnel spend more than twice as fast). Testing showed a 28% ROAS improvement for SMBs using Performance+ with ROAS bidding. Smart Assembly alpha delivered ~6% improvement in CTR on average.
AI and Product Differentiation
Launched Pinterest Assistant to the vast majority of U.S. users; Taste Graph backed by >80B monthly searches and 16B boards drives personalized, visual-first recommendations. Transition to GPU serving completed >2 years ago. Use of compact proprietary models + post-trained open-source models yields substantial cost advantage (open models delivering cost per transaction at <8% of comparable closed models).
Strategic Acquisitions and CTV Expansion
tvScientific added to product mix (full integration into Pinterest Performance+ expected in 2027) and contributed a full-quarter impact in Q2. Early advertiser reception to CTV extension remains strong.
Capital Returns and Balance Sheet
Repurchased $58M of stock in Q2 and repurchased over $2B year-to-date (retiring ~111M shares). Ended quarter with $1.3B in cash, cash equivalents and marketable securities; opportunistic buybacks helped reduce net dilution (down 12% YoY) and supported 30% growth in Q2 non-GAAP EPS.
Operational Efficiency Signals
Blended model routing prioritizes cost/quality/latency and allows reserving higher-cost models for complex tasks. Internal AI tooling showed productivity gains (e.g., weekly pull requests per engineer up 45% YoY in July) while incident rates and uptime remained stable.
MX:PINS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed