SAN FRANCISCO (AP) _ Pinterest Inc. (PINS) on Thursday reported fourth-quarter net income of $207.8 million, after reporting a loss in the same period a year earlier.
The San Francisco-based company said it had net income of 30 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 43 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The digital pinboard and shopping tool company posted revenue of $705.6 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $645.8 million.
For the year, the company reported that its loss narrowed to $128.3 million, or 22 cents per share. Revenue was reported as $1.69 billion.
Pinterest shares have climbed 18% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $77.87, more than tripling in the last 12 months.