Pandora Shares Plummet 20% After Earnings

Pandora Media Inc. shares tanked Thursday after the Internet radio company reported fourth-quarter results that missed revenue expectations. Pandora said it earned an adjusted 18 cents a share on revenues of $268 million, compared with 11 cents a share a year ago. Analysts polled by FactSet had expected earnings of 18 cents a share for the quarter on revenues of $276.5 million. The company said the number of its active listeners rose 7% to a record 81.5 million. Shares of Pandora recently fell 21% in after hours, after ending the day down 0.7%.