The company revised its revenue expectations for the first three months of the year to a range of $958 million to $978 million. This marks a slight increase from the previous forecast of $951 million to $971 million issued in February. However, the acquisition’s integration has slightly tempered profit expectations, with adjusted EBITDA now projected between $163 million and $183 million, down from the earlier estimate of $166 million to $186 million.
Integrating Connected TV
The shift follows the formal closing of the deal for tvScientific, a move first announced in December. While Pinterest has not disclosed the specific financial terms of the purchase, the acquisition is a strategic play to bolster its performance in the growing connected TV (CTV) market. By integrating tvScientific’s platform, Pinterest aims to provide advertisers with more sophisticated tools to track the impact of television ads on consumer behavior.
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