Pinterest (NYSE:PINS) showed strong performance in the first quarter, significantly beating Wall Street expectations in earnings and providing a solid revenue forecast, which led to its shares jumping over 16% in pre-market today.

The company posted adjusted earnings per share (EPS) of $0.20, well above the analyst consensus of $0.14. Revenue reached $740 million, surpassing the estimated $700.27 million and marking a notable 23% increase, which nearly doubled the growth rate from the previous quarter.

The company's exceptional performance was driven by a record 518 million global monthly active users, marking a 12% increase. For the second quarter, Pinterest projects revenue between $835 million and $850 million, exceeding analysts' expectations of $826.5 million. This forecast indicates a year-over-year revenue growth of 18-20%.