Pinterest touts Amazon partnership progress, AI in Q2 earnings beat
Pinterest's update on its Amazon partnership and AI efforts during its Q2 2023 earnings. The key points are:
- Pinterest's partnership with Amazon is progressing faster than expected, with live traffic tests showing positive results.
- Meaningful revenue impacts from the Amazon deal are expected in early 2024.
- Pinterest's AI investments are improving engagement, relevance, and ads on the site.
- The company is using next-generation AI technologies to surface more relevant and personalized content and improve ad relevance.
- AI has contributed to a 8% global monthly active user growth and increased user engagement.
- Pinterest's earnings beat expectations, but the stock dropped due to Q3 guidance missing the mark.