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December 5, 2012 02:15 am GMT
Internet radio service Pandora released its financial results for the Q3 2013, ending October 31 2012. Revenues are up 60 percent compared to Q3 2012 and now represents $120 million. Pandora reported a non-GAAP earnings per share of $0.05. It represents a GAAP net income of $2.052 million. Advertising revenue was $106.3 million, a 61 percent year-over-year increase. Subscription and other revenue was $13.7 million, a 52 percent year-over-year increase. Analysts were expecting revenue of $17.1 million and non-GAAP EPS between breakeven and $0.01. The most important expense for Pandora remains music royalties. Recently, it has been lobbying to lower those content costs. Pandora currently has $80.5 million in cash, cash equivalents and short-term investments. Thats down from the last quarter. It had 59.9 million active users this quarter. An important metric is the total number of listener hours. It grew 67 percent year-over-year to 3.56 billion hours for this quarter. Growth is slowing down as it was at 3.3 billion hours last quarter. For Q4 2013, Pandora expects revenue between $120 million and $123 million and a non-GAAP loss per share. In addition to being much lowered than expected, inaccurate report from MarketWatch drove the stock down. Shares are currently down 17.57 percent in after-hour trading. Developing Graphics by Bryce Durbin
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/8wuAc1CytdY/
Pandora Beats, Q3 2013 Revenue Up 60% To $120M, 59.2M Active Users, Net Income Of $2.1M, Q4 Forecast Lowered
Internet radio service Pandora released its financial results for the Q3 2013, ending October 31 2012. Revenues are up 60 percent compared to Q3 2012 and now represents $120 million. Pandora reported a non-GAAP earnings per share of $0.05. It represents a GAAP net income of $2.052 million. Advertising revenue was $106.3 million, a 61 percent year-over-year increase. Subscription and other revenue was $13.7 million, a 52 percent year-over-year increase. Analysts were expecting revenue of $17.1 million and non-GAAP EPS between breakeven and $0.01. The most important expense for Pandora remains music royalties. Recently, it has been lobbying to lower those content costs. Pandora currently has $80.5 million in cash, cash equivalents and short-term investments. Thats down from the last quarter. It had 59.9 million active users this quarter. An important metric is the total number of listener hours. It grew 67 percent year-over-year to 3.56 billion hours for this quarter. Growth is slowing down as it was at 3.3 billion hours last quarter. For Q4 2013, Pandora expects revenue between $120 million and $123 million and a non-GAAP loss per share. In addition to being much lowered than expected, inaccurate report from MarketWatch drove the stock down. Shares are currently down 17.57 percent in after-hour trading. Developing Graphics by Bryce DurbinOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/8wuAc1CytdY/
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