Pandora Shares Slide In Wake Of Quarterly Loss
Pandora Media Inc. late Thursday reported its third-quarter loss narrowed to $2.03 million, or a penny a share, from a loss of $4.09 million, or 2 cents a share, a year ago. Revenue increased to $239.6 million versus $169.3 million. On an adjusted basis, Pandora would have earned 9 cents a share, ahead of the 8 cents a share forecast by analysts in a FactSet survey. The Internet radio company announced total listener hours rose 25% to 4.99 billion while active listeners gained 5.2% to 76.5 million. Pandora shares fell 1.8% in after-hours trading.
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