Pinterest, Inc. (NYSE:PINS) Q2 2020 Earnings Conference Call - Final Transcript

Jul 31, 2020 • 08:30 am ET


Pinterest, Inc. (NYSE:PINS) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning ladies and gentlemen. Thank you for standing by and welcome to the Pinterest Second Quarter Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to your speaker today, Jane Penner, Head of Investor Relations. Please go ahead.

Jane Penner

Thank you, Julie. Good morning, and thank you for joining us. Welcome to Pinterest's earnings conference call for the second quarter ended June 30, 2020. Joining me today on the call are Ben Silbermann, our President and CEO; and Todd Morgenfeld, our Chief Financial Officer and Head of Business Operations. Now, I'll cover the Safe Harbor. Some of the statements that we make today regarding our performance, operations and outlook including the impact of the COVID-19 pandemic, maybe considered forward-looking. And such statements involve a number of risks and uncertainties that could cause actual results to differ materially.

In addition, our results, trends and outlook for Q3, 2020 are preliminary and may not be an indication of future performance. We are making these forward-looking statements based on information available to us as of today, and we disclaim any duty to update them later unless required by law. For more information, please refer to the risk factors discussed in our most recent Form 10-Q or 10-K filed with the SEC and available on the Investor Relations section of our website. During this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of non-GAAP to GAAP measures is included in today's earnings press release and letter to shareholders, which are distributed and available to the public through our Investor Relations website located at

And now, I'll turn the call over to Ben.

Ben Silbermann

Hi, everyone. Thanks a lot for joining the call this morning. Todd and I will be giving some brief opening remarks, touching on our results and our four strategic priorities, which are making Pinterest home to the most inspiring content, helping Pinners discover more use cases, making Pinterest more shoppable and scaling our ad business, then we'll be happy to take your questions. But before going into business results as we usually do, I just want to acknowledge that this period feels like anything, but business as usual for people and businesses here in the U.S. and across the world. First, there's COVID-19, which in addition to being a global health threat is impacting how people live and work, including all of us here at Pinterest.

We're learning how to operate as a distributed workforce, and in this new climate, we're going to keep making collaboration and efficiency a priority, so we can keep delivering for Pinners and for our advertisers. In addition, here in the U.S., we're experiencing historic moment for racial justice, one that's leading companies to look at what they can do better, and Pinterest is no exception. We've made a number of commitments to drive change from improving representation in our product to increasing the diversity of our workforce, especially in senior roles. I know that this is not