Pinterest power

Pinterest had its best day in two months after the image-based social media website beat Wall Street’s third-quarter sales and profit targets as its user base stabilized.

San Francisco-based Pinterest earned 11 cents per share in the period, nearly double the 6 cents per share analysts were expecting. Revenue in the period rose 8% from last year to $685 million, also beating Wall Street projections.

Pinterest, which also runs a shopping tool through its digital pinboard, said its monthly active users in the U.S. and Canada grew sequentially for the first time since the first quarter of 2021, to 95 million. The company said measurements of user engagement also showed improvement. Last month, Pinterest announced partnerships with Warner Music Group, Warner Chappell Music, Merlin and BMG to expand the music experience on the site.