Pandora Media Pops on Q2 Earnings Results

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Shares of Pandora Media
P
are trading higher in the after-hours following the release of the company's Q2 earnings results. Currently, shares are higher by 10.67%, trading at $13.80; they ended the regular session higher by 3.31%, at $12.47. Aruba Networks reported Q4 adjusted non-GAAP EPS of $0.02 (GAAP EPS od ($0.04)) on revenues of $67 million. Revenues increased 117% year over year. Advertising revenue was $58.3 million, a 118% year over year increase. Subscription and other revenue was $8.7 million, a 112% year over year increase. "Pandora is personalizing radio -- and consumers are enthusiastically embracing the dramatically better experience," said Joe Kennedy, President & CEO of Pandora. "At the same time, advertisers continue their adoption of Pandora's multi-platform ad solutions, resulting in our 6th consecutive quarter of year-over-year triple digit revenue growth. In addition to continued high growth in web revenue, Pandora's mobile advertising revenue for the first time comprised approximately half of total advertising revenue as we lead the way in the nascent but fast growing mobile advertising market. Pandora continues to grow our market share of U.S. radio as we fundamentally transform one of the last forms of traditional media." Pandora Media, Inc. is an Internet radio in the United States. As of January 31, 2011, it had over 80 million registered users. The Music Genome Project and its playlist generating algorithms enable it to deliver personalized radio to its listeners.
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Posted In: EarningsAfter-Hours Center
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