Pinterest tried to turn a rough earnings day into a positioning play, with CEO Bill Ready asserting that the platform now handles more searches than ChatGPT. Citing third-party estimates, Ready said Pinterest records roughly 80 billion monthly searches compared with 75 billion on ChatGPT, and generates about 1.7 billion monthly clicks from those queries—an attempt to recast the company as a high-intent discovery engine even as financial results fell short and shares slid in after-hours trading.
Earnings Miss Sets the Stage for a Tougher Outlook
Pinterest reported fourth-quarter revenue of $1.32 billion versus analyst expectations of $1.33 billion and earnings per share of $0.67 against a projected $0.69. The company also guided first-quarter sales to a range of $951 million to $971 million, trailing consensus forecasts around $980 million.
Executives pointed to weaker spending from larger advertisers, especially in Europe, as well as disruption in the home category following a new furniture tariff implemented in October. Management warned those headwinds could intensify in the near term.
Paradoxically, user growth outpaced expectations: monthly active users climbed 12% year over year to 619 million, beating the Street’s forecast. The disconnect between audience expansion and monetization, a familiar Pinterest challenge, weighed on sentiment, sending the stock down sharply after the report.
The Search Claim and Its Context Amid Weak Results
Against that backdrop, Ready emphasized search as Pinterest’s core lever. He said third-party data indicates Pinterest’s 80 billion monthly searches exceed ChatGPT’s 75 billion, adding that the platform converts a meaningful share of those searches into 1.7 billion clicks. He characterized Pinterest as one of the world’s largest search destinations—though the comparison raises questions about definitions and methodology.
Not all “searches” are alike. On Pinterest, searches often center on idea exploration—kitchen remodels, outfits, wedding decor—while ChatGPT prompts span everything from coding help to homework and general knowledge. Different analytics firms measure activity differently, and companies frequently cite data from providers such as Similarweb, data.ai, or Comscore, each with its own sampling and inference models. Without uniform standards, apples-to-apples comparisons can be directional rather than definitive.
Ready also argued that more than half of Pinterest’s searches carry commercial intent, contrasting that with an estimated low-single-digit share—about 2%—for ChatGPT prompts. OpenAI does not publish a breakdown of commercial queries, so that figure should be treated as a competitive claim, not a disclosed metric. Still, if Pinterest’s searches are disproportionately shopping-related, the pitch to advertisers becomes clearer: it’s not just volume, it’s intent density.
Monetization Stakes for Pinterest’s High-Intent Search
Pinterest has long excelled at inspiration but struggled to convert that intent into purchases at the scale of ad powerhouses. In a marketplace where brands increasingly direct budgets to channels with measurable purchase intent—think Amazon’s retail media ads or Google’s shopping formats—Pinterest needs to prove its discovery traffic can mature into transaction-oriented behavior.
The company’s advantage lies in visual search and personalized recommendations that greet users the moment they open the app. Features like visual search and shoppable pins are designed to collapse the journey from idea to checkout. If Pinterest can systematically surface in-stock, price-competitive products against evergreen planning moments—back-to-school, holidays, home refreshes—it strengthens the argument that its searches deserve performance dollars, not just branding budgets.
Checkout and AI Shopping Roadmap for Converting Intent
Ready highlighted a streamlined path to purchase via the company’s partnership with Amazon, which routes users into a familiar checkout flow. That can reduce friction and improve conversion, a critical link between search volume and revenue. While he suggested consumers aren’t yet comfortable letting AI complete purchases autonomously, he said Pinterest could support that behavior when demand arrives, framing payment execution as a solvable endcap to a largely visual and curated discovery journey.
The broader AI shopping race is intensifying. Generative assistants are increasingly capable of product comparisons and personalized picks, while social platforms push in-app commerce. Pinterest’s counter is to own intent at the start, using its image-rich dataset to translate inspiration into baskets without requiring users to craft a single prompt.
What to Watch Next for Pinterest’s Search Monetization
Two proof points matter now: transparency and conversion. Advertisers will want clarity on how Pinterest defines and audits its 80 billion monthly searches, as well as validation of the 1.7 billion monthly click-throughs. Just as crucial is revenue per user—if commercial-intent searches are truly rising, average revenue per user should reflect that, even amid macro softness.
In the near term, watch European ad demand, the duration of the home-furnishings tariff drag, and first-quarter performance versus guidance. Strategically, the company must show that its growing user base and claimed search leadership can be translated into dependable, high-intent commerce—before rivals in AI and social commerce capture those same dollars.
