Pinterest's second quarter revenue grew 18% to $1.18 billion, beating estimates as users reached a record 640 million.

Pinterest reported second quarter revenue of $1.18 billion, an 18% increase year-over-year, surpassing analyst estimates. Non-GAAP EPS came in at $0.43, also ahead of expectations. The company achieved a new all-time high in user numbers, reporting 640 million global monthly active users, which represents its 11th consecutive quarter of double-digit user growth.

Key Highlights

• Revenue grew 18% year-over-year to $1.18 billion, or 17% on a constant currency basis.
• Global Monthly Active Users (MAUs) increased 11% year-over-year to a record 640 million, exceeding the 638 million estimate.
• Adjusted EBITDA rose 24% to $311 million, with the corresponding margin expanding to 26% from 25% a year ago.
• The company guides for third quarter revenue between $1.19 billion and $1.21 billion, representing 13% to 15% year-over-year growth.