Pinterest (NYSE: PINS) reported Q1 EPS of $0.11, $0.04 better than the analyst estimate of $0.07. Revenue for the quarter came in at $485 million versus the consensus estimate of $473.66 million.

• Global Monthly Active Users (MAUs) grew 30% year over year to 478 million.

Guidance:

We continue to navigate uncertainty given the ongoing COVID-19 pandemic and other factors. Our current expectation is that Q2 revenue will grow around 105% year over year. In Q2, we expect global MAUs to grow in the mid-teens and US MAUs to be around flat on a year-over-year percentage basis. Finally, we expect sequential operating expense growth to accelerate in Q2 as we continue to ramp investments in our long-term initiatives and growth drivers.

We intend to provide further detail on our outlook during the conference call.

Our strategic priorities for 2021 remain anchored in content, the Pinner experience, advertiser success and shopping. We plan to continue investing in these this year. We expect R&D efforts to continue to focus on Pinner product, ad product and measurement investments. We intend to grow our headcount further, in particular to support our international expansion efforts. We also intend to scale our comprehension and brand marketing efforts in 2021. We think these investments will support long-term growth and continue to build the foundations for a scaled business over time.

For earnings history and earnings-related data on Pinterest (PINS) click here.