Image-based social media app maker Pinterest (NYSE: PINS) experienced a surge in new customers and increasing engagement from existing customers at the onset of the pandemic. As economies are reopening, advertisers are ramping up spending again, and Pinterest expects to reap the rewards. Management guided investors to look for robust revenue growth from the social media app.
Snap (NYSE: SNAP) posted a dazzling second quarter report on July 22, and the stock skyrocketed to an all-time high the following day. Snap's revenue and DAUs rose at their fastest rates in four years. For the third quarter, Snap expects its revenue to rise between 58% and 60% year over year and for its adjusted EBITDA to increase between 79% and 114%.
Snap (NYSE: SNAP) and Twitter (NYSE: TWTR) just reported blowout earnings, and it bodes well for other digital advertising businesses like Facebook (NASDAQ: FB) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). Both Snap and Twitter saw revenue skyrocket, but the numbers that truly stood out were the increases in ad pricing on their respective platforms.