Pandora Mixed Mid-Way Through Tuesday
Pandora Media (NYSE: P) will release fiscal year 2013 third-quarter earnings on December 4, after market close. The company will host a conference call at 5:00 PM EST to discuss these results with investors. During regular trading the stock has bounced between one and six percent higher. A live audio-cast of the event will be available on the Pandora Investor Relations website .
The year-ago third quarter revenue was $75 million, with revenues in successive periods rising eight percent. Subsequently, shares remained flat, then rose a further 25 percent in the second quarter of fiscal year 2013 to a value of $101.27 million. This jump in revenues brought Pandora one important step closer to positive net income, which has long been a sore spot for investors.
Pandora has mired an inability to generate positive profit amid fears of new competition from industry giants like Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT). Microsoft now has its Xbox Music Pass, which has been impressive out of the gate and is available on both Windows 8 and RT. Pandora's selection has lagged behind other services like Spotify and Last.fm both in terms of streaming quality and music selection, but they are still considered to be the leader in this area of service.
Shares of Pandora traded down 0.13 percent midway through trading on Tuesday.
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