Pinterest Inc (NYSE:PINS) is seeing impressive user growth, particularly among Gen Z users, according to the company’s CEO Bill Ready.
Following the release of the image-sharing social media site’s second-quarter financial results on Tuesday, Ready told CNBC that the platform saw its best user growth in over two years during the quarter.
Its global monthly active users increased 8% year-over-year to 465 million in 2Q.
“Gen Z is our fastest-growing cohort, and they’re engaging more deeply than prior cohorts,” Ready said.
Ready, who took on the CEO role at Pinterest a year ago, said that bringing more “shoppable content” onto the platform has boosted engagement.
“More than half of the users on Pinterest say they’re there to shop, but the actionability on Pinterest was low. As we’re bringing that shoppable content onto Pinterest, we’re finding that it’s really driving great engagement,” he told CNBC.
Pinterest posted a 2Q earnings beat, with earnings per share of $0.21 topping expectations of $0.12.
Revenue also came in higher than expected at $708 million, above the $696 million forecast per Refinitiv and an increase of 6% from the year-ago quarter.
It guided 3Q revenue to be an increase over the prior year in the high single-digit range, in line with the Street forecast of 7.6% growth.
Despite its upbeat report, Pinterest shares fell on Wednesday morning, down 4.2% at US$27.76.
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