# Pinterest (PINS) Q3 2026 earnings

Results filed 2026-10-29 for the quarter ended 2026-09-30. Source page: https://earnings.opennash.com/companies/pins/2026-q3/
Press release and exhibits: https://www.sec.gov/Archives/edgar/data/1506293/000150629326000151/0001506293-26-000151-index.htm
> Summaries and transcripts are machine-generated and can contain errors.

## In brief

Pinterest's Q3 2026 revenue was $1,174 million, up 12%, with GAAP net income of $22 million and a record 661 million monthly active users.

Pinterest grew revenue 12% to $1,174 million in the third quarter and reached a record 661 million monthly active users, up 10%. The U.S. and Canada led with 14% revenue growth, while Europe was flat. GAAP net income fell 77% to $22 million as costs rose and interest income shrank. Adjusted EBITDA, a profit measure that excludes stock pay and other items, rose 11% to $339 million.
For the fourth quarter, management expects revenue of $1,425 million to $1,475 million, or 8% to 12% growth, and Adjusted EBITDA of $538 million to $588 million. It still expects a full-year Adjusted EBITDA margin of about 30%. The main tension is that user growth and U.S. monetization are strong, while Europe is hurt by regulatory changes affecting cross-border sellers and international sales is being reorganized. A new CFO also started on October 26.

## Key numbers

| Metric | Value | Change | Basis |
| --- | --- | --- | --- |
| Revenue | $1,174 million | up 12% from a year ago | GAAP |
| Net income | $22 million | down 77% from a year ago | GAAP |
| Diluted EPS | $0.04 | down from $0.13 a year ago | GAAP |
| Non-GAAP net income per share | $0.46 | up from $0.38 a year ago | non-GAAP |
| Income from operations | 30,338 | down from 58,516 a year ago | GAAP |
| Net cash provided by operating activities | $316 million | down 2% from a year ago | GAAP |
| Free cash flow | $300 million | down 6% from a year ago | non-GAAP |
| Adjusted EBITDA | $339 million | up 11% from a year ago | non-GAAP |

## Segments and operating metrics

| Name | Value | Change |
| --- | --- | --- |
| Global monthly active users | 661 million | up 10% from a year ago |
| Revenue - U.S. and Canada | $894 | up 14% from a year ago |
| Revenue - Europe | $193 | flat from a year ago |
| Revenue - Rest of World | $87 | up 24% from a year ago |
| Global ARPU | $1.80 | up 1% from a year ago |
| U.S. and Canada ARPU | $8.38 | up 10% from a year ago |
| Europe ARPU | $1.21 | down 7% from a year ago |

## Outlook

| Metric | Period | Outlook |
| --- | --- | --- |
| Revenue | Q4 2026 | $1,425 million to $1,475 million |
| Adjusted EBITDA | Q4 2026 | $538 million to $588 million |
| Adjusted EBITDA margin | full-year 2026 | approximately 30% |

## Key takeaways

1. **Revenue growth held at 12% on record users** Revenue was $1,174 million, up 12% on a reported and constant currency basis, while global monthly active users rose 10% to 661 million.
2. **U.S. and Canada drove growth; Europe was flat** U.S. and Canada revenue rose 14% to $894 million and Rest of World rose 24%, while Europe was flat at $193 million. Europe ARPU fell 7%, which management tied to regulatory changes affecting cross-border sellers.
3. **GAAP profit fell sharply despite higher EBITDA** GAAP net income dropped 77% to $22 million, while Adjusted EBITDA rose 11% to $339 million. Share-based compensation was $288,249 thousand and interest income, net, fell to $6,022 thousand from $28,536 thousand.
4. **Q4 guidance implies growth of 8% to 12%** Pinterest guided Q4 revenue to $1,425 million to $1,475 million and Adjusted EBITDA to $538 million to $588 million. It still expects a full-year Adjusted EBITDA margin of approximately 30%.
5. **Buybacks and acquisition reshaped the balance sheet** Cash and marketable securities fell as the company repurchased $2,024,886 thousand of Class A stock in the nine months and issued convertible notes. Fully diluted shares were down 12% year over year, and a new CFO joined on October 26.

## Questions

**How did Pinterest perform in Q3 2026?** Revenue was $1,174 million, up 12% year over year, and monthly active users hit a record 661 million, up 10%. GAAP net income was $22 million and Adjusted EBITDA was $339 million.
**What is Pinterest's guidance for Q4 2026?** Pinterest expects Q4 revenue of $1,425 million to $1,475 million, representing 8% - 12% growth, and Adjusted EBITDA of $538 million to $588 million. It still expects a full-year Adjusted EBITDA margin of approximately 30%.
**Why did GAAP net income fall 77%?** Net income was $22 million versus $92 million a year earlier. Costs and expenses rose faster than revenue, interest income, net, dropped to $6,022 thousand from $28,536 thousand, and income taxes were a $13,613 thousand provision versus a $4,912 thousand benefit a year ago.
**Which regions grew fastest?** Rest of World revenue grew 24% and U.S. and Canada grew 14%, while Europe was flat. Management said international revenue growth was mainly affected by regulatory changes in Europe affecting cross-border sellers.
**How much cash did Pinterest generate?** Operating cash flow was $316 million, down 2%, and free cash flow was $300 million, down 6%. Trailing twelve-month free cash flow was $1.26 billion, or 90% of Adjusted EBITDA.

## Slides and investor documents

- [Earnings Presentation](https://s204.q4cdn.com/369458543/files/content_files/Q3-2026-Pinterest-Earnings-Presentation.pdf) (Slide deck)
- [Transcript](https://s204.q4cdn.com/369458543/files/doc_earnings/2026/q3/transcript/Q3-2026-Transcript.pdf) (Company's official transcript)
- [Webcast](https://events.q4inc.com/attendee/714420261) (Webcast replay)
- [10-Q](https://d18rn0p25nwr6d.cloudfront.net/CIK-0001506293/60548144-7eb4-4522-ae19-2e0fe93d015a.pdf) (Document)