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Pandora Media Inc (NYSE:P) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 24.89%.
Pandora Media Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.04 in the quarter versus EPS of $-0.03 in the year-earlier quarter.
Revenue: Rose 53.82% to $125.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Pandora Media Inc reported adjusted EPS loss of $0.04 per share. By that measure, the company beat the mean analyst estimate of $-0.05. It beat the average revenue estimate of $122.81 million.
Quoting Management: “We continue to monetize mobile at record levels and exceeded our expectations for the quarter,” stated Joe Kennedy, Chairman & CEO of Pandora. “We closed the year with a record 8% share of total U.S. radio listening and record mobile monetization that cemented our leadership in mobile advertising. We have completed our technology integration with radio ad buying platforms and are rolling it out to the market. Pandora has been hiring top talent in local radio markets to further increase our share of the $15 billion radio ad market. We are now effectively the largest radio station in almost every major market and begin fiscal year 2014 with extraordinary momentum.”
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