May 23, 2013

Pandora posts in-line 1Q loss, upbeat sales

(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.

Citation: Pandora posts in-line 1Q loss, upbeat sales (2013, May 23) retrieved 10 June 2023 from https://phys.org/news/2013-05-pandora-in-line-1q-loss-upbeat.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

Explore further

Expedia posts 1Q loss; says revenue rose 24 pct
0 shares

Feedback to editors
Load comments (0)