Market Overview

Pandora Q3 Revenue Up 40%, Beats Views


Pandora Media Inc (NYSE: P) posted third-quarter revenue growth of 40 percent Thursday on a sharply narrowed net loss.

The Internet radio company beat expectations and raised its forecast for its fourth-quarter and full-year outlook.

Yet Pandora fell more than 5 percent in after-hours trading to $21.76 per share.

The company forecast fourth-quarter adjusted earnings of between $0.17 and $0.19 per share, on revenue of between $273 million to $278 million.

Wall Street expects $0.17 per share on revenue of $272.75 million.

In the recent period, advertising revenue grew 44 percent to $194.3 million, while subscription and other revenue increased 25 percent to $45.3 million.

Gross profit increased 53 percent to $112.8 million, while operating expense increased 33 percent to $114.8 million.

The third-quarter net loss narrowed to $2 million, or $0.01 per share, from $4.1 million, or $0.02 per share a year earlier. Revenue grew to $239.6 million, from $169.3 million.

Adjusted earnings equaled $0.09 per share.

Analysts expected adjusted earnings of $0.08 per share on revenue of $238.5 million.

Posted-In: Earnings News Guidance After-Hours Center


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