Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Pandora Media Full-Year Guidance Disappoints, Shares Tumble in Afterhours (P)

Friday, August 23, 2013 7:34 AM
Online radio company, Pandora Media Inc. (NYSE: P) said after the market close on Thursday that fiscal second quarter loss widened as expenses increased, offsetting a double digit growth in revenue. Although adjusted earnings and revenue topped Street’s expectation, shares fell about 5.70% in aftermarket hours on Thursday as earnings outlook for the fiscal third quarter fell short of Wall Street’s expectation. Full-year earnings guidance also missed analysts’ estimation. For the fiscal third quarter, Pandora Media anticipates non-GAAP earnings to be in the range of 3 cents a share to 6 cents a share. Analysts polled by Thomson Reuters were anticipating 8 cents. For the full-fiscal year, Pandora expects earnings of breakeven a share to 5 cents a share, down from its earlier guidance of breakeven to 8 cents a share. However, the outlook on full-year adjusted revenue was lifted to $640 million to $655 million from $615 million to $635 million. For the fiscal second quarter ended July 31, the internet radio company reported a net loss of $7.8 million or 4 cents a share compared to a loss of $5.4 million or 3 cents a share. Stripping out onetime items such as stock based compensation and other expenses, the adjusted earnings stood at 4 cents a share up from a penny a share, in the same quarter of last year. Revenue climbed 55% to $157.4 million. Adjusted revenue rose 58% to $162 million. Active users increased 30% from the year-earlier quarter to 71.2 million in the fiscal second quarter. Earlier in May, the Company projected a adjusted loss of 2 cents a share to a profit of a penny a share on adjusted revenue of $155 million to $160 million. Revenue from advertising rose 44% to $128.5 million. Revenue from subscription and other sources more than doubled to $28.8 million. Total costs and expenses soared 55% to $165 million.  
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

BMW to fix fuel economy labels on Mini Coopers after U.S. EPA testBMW to fix fuel economy labels on Mini Coopers after U.S. EPA test
DETROIT (Reuters) - BMW AG will lower fuel economy claims for four 2014 Mini Cooper models after testing by the U.S. Environmental Agency, the EPA said on Wednesday. The EPA tested the four models a...
Toyota executive stands by Takata as supplier despite air bag troublesToyota executive stands by Takata as supplier despite air bag troubles
TOKYO (Reuters) - A top Toyota Motor Corp <7203.T> executive said on Wednesday the Japanese automaker has no plans to abandon Takata Corp <7312.T> despite the supplier`s struggles with a...
German official: France's budget won't be discussed at EU summitGerman official: France's budget won't be discussed at EU summit
BERLIN (Reuters) - France`s budget will not be on the agenda at a summit of European Union leaders this week, a senior German government official said on Wednesday. "France won`t be discussed at the...
U.S. consumer prices rise on shelter costs, but inflation mutedU.S. consumer prices rise on shelter costs, but inflation muted
WASHINGTON (Reuters) - U.S. consumer prices rose marginally in September, painting a weak inflation picture that should give the Federal Reserve ample room to keep interest rates low for a while. ...
Consumer prices barely rise as energy costs fallConsumer prices barely rise as energy costs fall
WASHINGTON (Reuters) - U.S. consumer prices rose marginally in September as energy costs fell broadly, painting a weak inflation picture that should give the Federal Reserve ample room to keep interes...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.