Pandora Explodes Higher After Q2 Results

Pandora Media

shares are rallying on Thursday after the company delivered better than expected second-quarter results after the closing bell on Wednesday. In mid-day trading, Pandora shares were trading up better than 22 percent and were sitting near new intra-day highs. The stock opened the trading session at $11.54 and had climbed all the way to $12.32 at last check. Pandora reported that earnings per share were breakeven for the second quarter, compared to Wall Street analysts' consensus EPS estimates of a loss of $0.03. Revenues were up 51 percent to $101.3 million, which also exceeded Street estimates of $100.9 million. Looking ahead, to the third quarter, Pandora sees EPS in a range between $0.00 to $0.01 on revenue of $115 million to $118 million. Currently Wall Street expects Pandora to report Q3 EPS of $0.00 on revenue of $114 million. For the full-year, Pandora sees a net loss of $0.04 to $0.08 on revenue of $425 million to $432 million. Current consensus for the full-year is for a loss of $0.12 on revenue of $424 million.