Pinterest CEO Claims Higher Search Volume Than ChatGPT After Earnings Miss

When Numbers Don't Add Up to Dollars

Facing a brutal 20% after-hours stock drop following disappointing Q4 earnings, Pinterest CEO Bill Ready reached for an unexpected defense: "We have more searches than ChatGPT."

The comparison was striking. Ready claimed Pinterest processes 80 billion monthly searches compared to ChatGPT's75 billion, generating 1.7 billion monthly clicks. "That makes us one of the largest search destinations in the world," he argued, emphasizing that over half of Pinterest searches are commercial in nature, versus approximately 2% for ChatGPT.

The Paradox of Growth Without Profit

Yet the market wasn't buying it. Pinterest missed on both revenue ($1.32 billion vs. $1.33 billion expected) and earnings per share (67 cents vs. 69 cents projected). The company also guided Q1 2026 sales below expectations at $951-971 million versus $980 million anticipated.

The irony was palpable: user growth exceeded expectations with monthly active users up 12% year-over-year to 619 million, beating Wall Street's forecast of 613 million. More users, more searches, but less money.

The Intent Gap Widens

Pinterest blamed larger advertisers pulling back spending, particularly in Europe, and October furniture tariffs affecting the home category. But the real challenge runs deeper: the platform's long-standing struggle to convert high usage into advertising dollars.

Users come to Pinterest to "plan and dream, not shop and buy," as the company has acknowledged. This challenge could intensify in the AI era, especially if advertisers shift budgets toward platforms where purchase intent is clearer—like chatbot requests asking for specific product recommendations.

AI's Double-Edged Promise

When pressed about navigating AI-powered shopping, Ready pointed to Pinterest's visual search, discovery, and personalization features. "We're helping them complete those commercial journeys without having to type in a single prompt," he said, also highlighting easier checkout through the Amazon partnership.

Ready acknowledged that customers "didn't yet seem ready to allow an AI to make a purchase on their behalf," but claimed Pinterest would be prepared when that time comes. "That'll actually be one of the easiest parts of the commercial journey to solve," he asserted.