Pandora Media Earnings: Here’s Why Investors are Not Excited Now
Pandora Media Inc (NYSE:P) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 5.48%.
Pandora Media Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.12 in the quarter versus EPS of $0.00 in the year-earlier quarter.
Revenue: Rose 51.18% to $153.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Pandora Media Inc reported adjusted EPS income of $0.12 per share. By that measure, the company beat the mean analyst estimate of $0.02. It missed the average revenue estimate of $156.35 million.
Quoting Management: “Our second fiscal quarter was an important inflection point in Pandora’s history. Strong momentum in our mobile business, with non-GAAP total mobile revenue growing 92% year-over-year to $116 million, clearly demonstrates the leverage in Pandora’s business model,” said Joe Kennedy, Chairman and CEO of Pandora. “To drive future growth, we are accelerating investment in new technologies, channels and capabilities that maximize the value Pandora delivers.”
Key Stats (on next page)…