Pinterest Inc. (PINS) reported strong fourth-quarter results, with revenue crossing the $1 billion mark for the first time and global monthly active users reaching an all-time high of 553 million, up 11% year-over-year. These impressive results capped off what the company called a "banner year" and drove its shares up nearly 19% in after-hours trading.

Here are the key highlights from Pinterest's Q4 2024 earnings report:

Earnings: Adjusted earnings per share of $0.56 missed analysts' estimates of $0.65, but marked a 5.7% year-over-year increase.

Revenue: Revenue jumped 18% to $1.15 billion, surpassing expectations of $1.14 billion. This was driven by a robust holiday shopping season and the platform's growing popularity among users and advertisers.

User Growth: Global monthly active users reached an all-time high of 553 million, up 11% year-over-year and exceeding analysts' forecast of 547.4 million. The largest user growth came from outside Europe and North America.

Q1 2025 Guidance: For the current quarter, Pinterest expects revenue between $837 million and $852 million, surpassing analysts' estimates of $832.8 million. This positive outlook suggests that the company's AI-powered advertising tools and growing Gen Z user base are attracting more advertisers to its platform.

Pinterest CEO Bill Ready highlighted that the company's strategy of making the platform more engaging and actionable for users and advertisers is paying off, driving profitable growth and free cash flow. The strong performance and upbeat guidance affirm Pinterest's ability to capitalize on the growing social media and e-commerce trends, despite increased competition.