Pinterest (PINS) shares soared after the image-sharing social media site posted better-than-expected results as advertising rebounded and it added more Gen Z users♛.

Pinterest reported third quarter fiscal 2023 net income of $6.73 million after losing $65.18 million in 2022. That translated into a net 澳洲幸运5开奖号码历史查询:profit margin shift from negative 10% to 1%.

Earnings per share (EPS) came in at $0.28. Revenue jumped 11.5% to $763.2 million. 澳洲幸运5开奖号码历史查询:Monthly active users (MAU) rose 8.3% to a record 482 million, and average revenue per user was🐓 up 3.2% to $1.61. All were more🎀 than forecasts.

CEO Bill Ready said as Pinterest leans into its unique differentiators as a visual search, discovery, and shopping platform “we’re finding our best product market fit in years." He added Gen Z consumers, whom advertisers especially crave, are "our fastest-growing and most engaged users."

The company now anticipates current-quarter revenue in a range of $974 million to $991 million. Analysts♚ had been looking for about $977 million. 

Following 🌠the reportꦏ, Bank of America upgraded the stock to Buy from Neutral, citing expectations of rising ad revenue.

Shares of Pinterest traded near their highs for the year, up nearly 19% on the day and 30% year-to-date.