Pandora Plummets 11% After-Hours on Earnings

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Pandora
P
reported earnings on Tuesday, March 6. The earnings came in lower than expectations, as the company reported an EPS of $(0.03) against an estimated EPS of $(0.02). Revenues were reported at $81.3 million versus estimated revenue of $82.96 million. The company guided first quarter revenues of $72-75 million versus an estimated $83.06 million and earnings between $(0.18) and $(0.21) versus an estimated $(0.02). After the company reported earnings, Pandora's stock dropped about 11%. Pandora began trading last June. Pandora's shares are off the lows hit in December, but are still down from the near $17 per share that the company was trading at last June. Pandora was one of the first IPOs in a recent wave of tech companies that also included LinkedIn
LNKD
and Groupon
GRPN
.
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Posted In: EarningsNewsGuidanceIPOsMoversTechTrading Ideas
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