Pinterest Is Booming

Richard Drew/AP Photo Pinterest reported blow-out third-quarter earnings this week, with revenue up 58% year-over-year. Its strong quarter was due to a combination of factors, most of which are related to the coronavirus pandemic: increased engagement during COVID lockdowns, a rise in online shopping, and people seeking an escape from a grim news cycle. "At Pinterest, we continued to focus on what we can control: supporting all of our stakeholders in this unpredictable time," CEO Ben Silbermann and CFO Todd Morgenfeld wrote in a letter to shareholders.