Pinterest Inc. (NYSE: PINS) reported first-quarter 2026 revenue of $1.008 billion, an 18% increase from the same period last year, according to a company statement. On a constant currency basis, revenue grew 15% year over year.

The social media platform reached 631 million global monthly active users in the quarter, representing an 11% increase from the prior year and marking what the company described as its tenth consecutive quarter of double-digit user growth.

Despite revenue growth, Pinterest posted a GAAP net loss of $74 million, compared to net income of $9 million in the first quarter of 2025. The company reported adjusted EBITDA of $207 million, up 20% from $172 million in the prior-year period.

Pinterest completed approximately $2 billion in share repurchases during the quarter as part of a previously announced program. The company also issued convertible notes, generating net proceeds of $985 million.

By geography, U.S. and Canada revenue grew 13% to $750 million, while Europe revenue increased 27% to $186 million. Rest of World revenue jumped 59% to $72 million. Average revenue per user globally was $1.61, up 6% from the prior year.

For the second quarter of 2026, Pinterest expects revenue between $1.133 billion and $1.153 billion, representing 14% to 16% growth year over year. The company projects adjusted EBITDA of $256 million to $276 million for the quarter.

Operating cash flow was $328 million and free cash flow reached $312 million for the quarter. The company incurred $47 million in restructuring charges related to its restructuring plan.