Nov 7 (Reuters) - Pinterest ( PINS ) beat Wall Street

estimates for third-quarter revenue and profit on Thursday,

thanks to robust advertising spending on the platform driven by

the image-sharing platform's AI investments.

Advertisers turn to the California-based company to target

its growing base of Gen Z users and leverage its AI-powered ad

tools in a bid to spur shopping activity.

The company's results follow quarterly reports by digital ad

bellwethers - including Google-parent Alphabet, Meta

Platforms ( META ), Reddit ( RDDT ) and Snap - which

posted upbeat third quarter revenue, helped by robust ad

spending.

Pinterest ( PINS ) released Performance+ suite in October to better

target users by enhancing ad campaigns with new AI tools and

automation features on the platform.

"Our AI investments are driving results by powering better

personalized experiences and greater performance for

advertisers, with our lower-funnel ad tools being the

fastest-growing part of our business," CEO Bill Ready said in a

statement.

Third party ad deals with Google and Amazon.com ( AMZN )

have also been helping in boosting Pinterest's ( PINS ) revenue.

The company's revenue grew 18% to $898.4 million in the

reported quarter, compared with analysts' average estimate of

$896.4 million, according to data compiled by LSEG.

Adjusted profit per share for the quarter came in at 40

cents, compared with estimates of 34 cents.

Global monthly active users on the platform rose 11% to 537

million in the July-to-September period, compared with estimates

of 531.5 million.

Pinterest ( PINS ) forecast fourth-quarter revenue between $1.13

billion and $1.15 billion, the midpoint of which was in line

with estimates.