Monday
December
22
2014
11:59 am
Weather

  Home
  Local News
  State / National / World
  Sports
  Opinion / Letters
  Business
  Arts / Entertainment
  Lifestyle
  Obituaries
  Calendar
  Submit Event
  Comics / Games
  Classifieds
  DJ Designers
  Archives
  Advertise With Us
  About Us
 
 
 
 
Pandora posts 3Q loss, revenue up 50 percent
November 22, 2013, 05:00 AM The Associated Press

LOS ANGELES — Shares of Pandora Media Inc. slipped Thursday after the Internet radio leader gave an outlook for the three months through January that was short of Wall Street’s forecast.

Chief Financial Officer Mike Herring said, however, that the impact from the Sept. 18 launch of Apple Inc.’s rival iTunes Radio was “modest.” Pandora noticed a quick dip in users, followed by stabilization and recovery in October, he said.

“It said a lot, we think, of the resilience and value of the Pandora brand,” he told The Associated Press.

The company based in Oakland, Calif., posted a loss in the quarter through Oct. 31 of $1.7 million, or a penny per share. Excluding stock-based compensation and other items, earnings came to 6 cents per share, matching the forecast of analysts polled by FactSet.

Revenue rose 50 percent to $180.4 million, beating the $177 million expected by analysts. Mobile advertising revenue grew 58 percent to $104.9 million, crossing nine figures for the first time.

Pandora says it had 70.9 million active listeners in the quarter, up 20 percent from a year ago, but down slightly from the 71.2 million in the preceding quarter.

Total listener hours grew 17 percent from a year ago to 4.18 billion, also up 8 percent from the quarter through July.

The company is transitioning its fiscal year to match the calendar year, and it will next report for a two-month period ending in December.

However, analysts’ expectations are still for the current quarter through January. On that basis, Pandora said it expects adjusted earnings of 2 cents to 4 cents per share. The midpoint of the range is a penny below the 4 cents expected by analysts.

It also expects adjusted revenue of $185 million to $190 million, while analysts were looking for $189 million. The adjusted figure adds back revenue from subscriptions that enable ad-free listening which is not recorded until a 30-day cancellation period passes. In the last quarter, the amount excluded only came to about $1.2 million.

Pandora shares fell 38 cents, or 1.3 percent, to $29.30 in after-hours trading, after rising $1.24 to close up 4.4 percent at $29.68 in the regular session. The stock has more than tripled this year.

 

 

Tags: million, percent, quarter, pandora, cents, through,


Other stories from today:

 

 
Print this Page Print this Page  |  Bookmark and Share
<< Back
 
Return To Archives
 
  


 
 
 
Daily Journal Quick Poll
 
What's your favorite part of this time of year?

Getting together with friends and family
Holiday parties
Getting time away from work
The fact I don't have to make a New Year's resolution yet

 

 
 
 
 
 
 
 
 
  
 
  
 
©2014 San Mateo Daily Journal
San Mateo County legal notices