Pandora Media Inc (NYSE:P) has released its earnings report for the fourth quarter of 2017.
- The company reported losses per share of 13 cents for the fourth quarter of 2016.
- This is down from its earnings per share of 4 cents from the same time last year.
- However, it did beat out analysts’ estimate, which had P reporting losses per share of 21 cents for the quarter.
- Revenue reported by the music streaming company in the fourth quarter of the year was $392.60 million.
- The company’s revenue from the fourth quarter of 2015 was $336.16 million.
- Wall Street was expecting the company to report revenue of $374.24 million in the fourth quarter of 2016.
- Pandora Media Inc reported an operating loss of $82.29 million in the fourth quarter of the year.
- Its operating loss from the same period of the year prior was $19.53 million.
- Net loss reported by the music streaming company for the quarter was $90.01 million.
- The company’s net loss during the same time last year was $19.41 million.
Pandora Media Inc also updated its guidance in its recent earnings report. For the first quarter of 2017, the company is expecting revenue to be between $310 million and $320 million. Wall Street is expecting revenue of $341.74 million for that period.
For the full year of 2017, Pandora Media Inc is looking for revenue to range from $1.55 billion to $1.70 billion. Analysts are expecting the music streaming company to report revenue of $1.67 billion for the year.
P stock was up 3% as of Friday morning.