Pandora Shares Fall After Quarterly Results

Pandora Media Inc. shares fell in the extended session Thursday after the Internet radio service reported quarterly results. Pandora shares fell 4.6% to $16.90 on moderate volume. The company posted a loss of 23 cents a share on revenue of $230.8 million. Adjusted, the loss was 12 cents a share. Analysts surveyed by FactSet were looking for a loss of 17 cents a share on revenue of $224.4 million. Pandora forecast revenue of $280 million to $285 million for the second quarter, and $1.16 billion to $1.18 billion for the year. Analysts expect $281.6 million for the quarter and $1.16 billion for the year.