Pinterest posts its weakest growth rate in two years – 10/28/2022 at 14:30

Pinterest posts its weakest growth rate in two years – 10/28/2022 at 14:30

(AOF) – Pinterest gained 9.2% in pre-market trading after the publication of a quarterly turnover above consensus thanks to a return to growth in the number of users of its platform. The Californian social network is based on quarterly adjusted earnings per share of 11 cents, against 5 cents consensus and 28 cents a year earlier. Revenue was $684 million, beating expectations by 3%, compared to $633 million last year.

However, with 8% growth in the third quarter, the group posted its weakest growth in nearly two years.

Global monthly active users stabilized at 445 million, versus the FactSet consensus of 437 million.

The quarterly loss was $65 million and 10 cents per share, compared with a profit of $94 million a year earlier.

For the quarter started, Pinterest expects growth of around 5%, affected by currency effects that are even heavier than in the previous quarter.

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French players well positioned in audiovisual production

Among the independent players, the Frenchman Banijay is the world leader with an expected turnover of 3 billion euros in 2022 in a market which represents 100 billion in revenue. Mediawan (backed by the KKR fund), whose turnover amounts to 1 billion euros, is the other main French player in the sector. The market is still very fragmented because according to the European Audiovisual Observatory, the top twenty production groups were responsible for only 38% of titles created in 2020. However, experts believe that the sector has entered a phase consolidation. Thus Banijay’s stock market listing aims to enable it to better participate in this movement.

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