Pinterest Grows Users But Profitability Remains Elusive
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Pinterest saw strong Q3 results with increased users, revenues, and margins, but profitability remains a challenge.
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User growth occurred mainly in emerging markets with limited monetization, while minimal growth in high-revenue U.S./Canada.
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Revenue growth was primarily from more users, not higher monetization. Company still operates at a loss.
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Valuation seems high at forward P/E of 30 for a company struggling to make profits.
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Despite user growth and metric improvements, core issue of profitable monetization remains unresolved.