PINS - Pinterest Inc. (PINS) Q4 2023 Earnings Call Transcript
2024-02-08 18:58:05 ET
Pinterest, Inc. (PINS)
Q4 2023 Earnings Conference Call
February 08, 2024, 04:30 PM ET
Company Participants
Neil Doshi - VP, Head of IR
William Ready - CEO
Julia Donnelly - CFO
Conference Call Participants
Eric Sheridan - Goldman Sachs
Ross Sandler - Barclays
Rich Greenfield - Lightshed Partners
Doug Anmuth - JPMorgan
Mark Mahaney - Evercore
Ron Josey - Citigroup
Dan Salmon - New Street Research
Kenneth Gawrelski - Wells Fargo
Colin Sebastian - Baird
Presentation
Operator
Good afternoon, and thank you for joining today's Pinterest Fourth Quarter and Full Year 2023 Earnings Call. My name is Kate, and I will be the moderator for today's call. At this time, all lines are in a listen-only mode. And there will be an opportunity for questions and answers at the end. [Operator Instructions]
I would now like to pass the call over to your host, Neil Doshi, Head of Investor Relations at Pinterest. You may proceed.
Neil Doshi
Good afternoon, and thank you for joining us. Welcome to Pinterest's earnings call for the fourth quarter and full year ended December 31, 2023. I am Neil Doshi, Vice President of Investor Relations for Pinterest. Joining me today on the call are Bill Ready, Pinterest CEO; and Julia Donnelly, our CFO.
We are providing a slide presentation to accompany our commentary, and this conference call is also being webcast. Please refer to our Investor Relations website at investor.pinterestinc.com to find today's presentation, webcast and earnings press release.
Some of the statements that we make today regarding our performance, operations and outlook, may be considered forward looking, and such statements involve a number of risks and uncertainties that could cause actual results to differ materially. In addition, our results, trends and outlooks for Q1 2024 and beyond are preliminary and are not an assurance of future performance.
We are making these forward-looking statements based on information available to us as of today, and we expressly disclaim any duty or obligation to update them unless required by law. For more information about risks, uncertainties and other factors that could affect our results, please refer to our most recent annual report Form 10-K and quarterly report on Form 10-Q filed with the SEC and available on our Investor Relations website.
During this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of non-GAAP measures to the most directly comparable GAAP measures is included in today's earnings, press release and presentation, which are distributed and available to the public through our Investor Relations website. Lastly, all growth rates discussed in today's prepared remarks should be considered year-over-year unless otherwise specified.
And now I'll turn the call over to Bill.
William Ready
Thanks, Neil. Good afternoon, and thank you for joining our fourth quarter and full year 2023 earnings call. In Q4, our team executed well against our strategic priorities, growing users and engagement, gaining further traction with our lower funnel advertising offerings and delivering on operational efficiency.
Our efforts to grow users and deepen engagement continue to yield strong results. Global MAUs hit another all-time record of $498 million, growing 11% accelerating from last quarter and growing sequentially in all of our geographic regions.
Q4 revenue of $981 million grew 12%, marking continued double-digit revenue growth in the second half of this year. And while growing revenue and engagement, we continue to demonstrate operational efficiency and disciplined expense management, resulting in Q4 adjusted EBITDA of $365 million, or a 37% margin up more than 1400 basis points from last year....
Pinterest, Inc. (PINS) Q4 2023 Earnings Call Transcript