Pandora posts in-line 1Q loss, upbeat sales

May 23rd, 2013 in Technology / Business

(AP)—Internet radio company Pandora reported higher-than-expected revenue in the latest quarter, with losses in line with analysts' forecasts, as the number of subscribers who pay for ad-free listening rose above 2.5 million.

The net loss in the three months ending April 30 grew to $28.6 million, or 16 cents per share, from a loss of $20.2 million, or 12 cents per share, a year ago.

Excluding items such as stock-based , the loss came to 10 cents per share, matching the forecast of analysts polled by FactSet.

Revenue rose 55 percent to $126 million, above the $124 million that analysts were looking for.

Media Inc.'s stock rose nearly 9 percent after the results came out.

Total listener hours grew 35 percent to 4.18 billion in the quarter.

© 2013 The Associated Press. All rights reserved.

"Pandora posts in-line 1Q loss, upbeat sales." May 23rd, 2013. http://phys.org/news/2013-05-pandora-in-line-1q-loss-upbeat.html