Pandora Media Inc Revenue Up 1.3%, Beats Analysts’ Expectations

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Pandora Media Inc (NYSE:P) has continued to impress in recent quarters as the company posted its latest results, topping expectations by a clear margin.

Pandora Media Inc
Source: Pandora

The music streaming service managed to increase its user base to 5.63 million paying subscribers by the end of its first quarter, marking a 19% increase compared to the year-ago quarter. The company’s subscription revenue for the period was $104.7 million, while its advertising efforts raked in $214.57 million.

Pandora’s revenue for the period tallied up to $319.2 million, a 1.33% gain from the $315 million it amassed during the first quarter of fiscal 2017. Analysts were calling for revenue of $304 million to kick off the company’s fiscal 2018, according to data compiled by FactSet.

On the revenue front, the company impressed as well, posted net losses of $139.1 million, or 55 cents per share, compared with losses of $132.3 million, or 56 cents per share. On an adjusted basis, Pandora’s losses narrowed to 27 cents per share, well below the 38 cents per share in losses that the Wall Street consensus estimate called for, according to data compiled by FactSet.

The media company added that for its second quarter of the fiscal year, it projects losses of 15 cents per share on revenue of $374 million. These results are impressive considering Pandora recently sold ticketing subsidiary company Ticketfly, which raked in revenue as recently as the last fiscal year.

P stock surged nearly 7% after the bell on the company’s strong earnings showing.


Article printed from InvestorPlace Media, https://investorplace.com/2018/05/pandora-media-inc-p-3/.

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