Pinterest added 9 million monthly active users, quarter over quarter, in Q2 2026. The company also brought in more ad revenue as the app became a more viable home for product discovery.
First, on users. Pinterest is now up to 640 million MAU, continuing its overall growth trajectory.
However, it’s not all good news here. As shown in these graphs, Pinterest actually lost two million users in Europe in the second quarter, while its U.S. and Canada market growth remained flat. All of Pinterest’s growth came in the “Rest of World” segment, which is less valuable for the business, at this stage at least.
Pinterest’s average revenue per user is significantly higher in the U.S. and Canada market and in Europe, which means that losing momentum in these regions will have a more significant impact on the platform’s earnings potential.
Does that mean that Pinterest has plateaued in these markets? Well, it’s been three quarters of mostly stagnant usage figures in these regions, which could be an indicator of likely saturation.
That’s especially true given that Pinterest launched a major new marketing push in April, designed to bring more users to the app.
Clearly, that hasn’t led to an uptick in new user sign-ups in these markets, which could indicate a more significant constraint on the platform’s opportunities.
Though for now at least, Pinterest is driving more revenue.
The platform brought in $1.18 billion in Q2, up about 18% year over year.
Increased relevance, driven by artificial intelligence improvements and refinements of its ad tools, has helped improve Pinterest’s business results. It will be interesting to see whether the company can continue to drive higher income despite its growth challenges.
As explained by Pinterest CEO Bill Ready: “AI is at the heart of our momentum and is a clear accelerant for our business. It is trained on our unique human curation of style and taste, making Pinterest more personalized and actionable for users, while improving performance for advertisers and creating more opportunities to monetize over the long term.”
In terms of AI-specific development, Pinterest showcased its evolving AI assistant tools, which now provide more options to help Pinners find relevant content.
The company also touted improvements in its Performance+ AI-powered ad tools, which enable marketers to tap into its expansive consumer insights.
Overall, the numbers indicate that Pinterest is likely reaching peak usage in key markets. At the same time, shopping-related insights from 640 million users can drive increased relevance and matching, which could make advertising to this cohort an increasingly valuable opportunity.
The challenge for Pinterest is showcasing the power of that insight to more prospective users and helping them find more relevant products, while also building on opportunities in international markets.
