Some of Our Sources
- Engadget
- Just Creative
- FanExtra - PSD
- Noupe
- Line 25
- CSS Tricks
- Spyre Studios
- Design Modo
- Android Dissected
- Daily Now
Help Webnuz
Referal links:
August 23, 2013 12:17 am GMT
Streaming radio platform Pandora just released its second quarter earnings, and it largely beat the street’s expectations. Total revenue increased 58 percent year over year to $162 million. The company reported non-GAAP EPS of -$0.04, a $7.8 million net loss. Analysts expected revenue of $156 million and non-GAAP earnings of $0.02 per share. Pandora managed to beat on revenue but was disappointing on earnings. Now 71.2 million users strong, the company reported 3.88 billion of listening hours over the quarter, representing a 18 percent year-over-year increase. Yet, Pandora reported 4.18 billion listening hours last quarter. Even though revenue is increasing, people are listening less to Pandora. Moreover, it is still losing money. Pandora is careful with its Q3 estimates as it expects between $174 million and $179 million in revenue with non-GAAP earnings per share between $0.03 and $0.06 after three quarters in the red. Yet, the big elephant in the room is iTunes Radio. Over the past seven days, most analysts expected Pandora to report stronger revenue and profit than anticipated. It was indeed the case but this second quarter represents the last quarter before the introduction of iTunes Radio and Pandora’s future looks gloomy. As the company notes, $116 million out of its $162 million reported revenue comes from its mobiles apps, or 71.6 percent. iOS is one of the two major platforms for Pandora, and it will now have to compete with a very similar product offering in the ‘Music’ apps. Even more worrying, advertisers could move from Pandora to iTunes Radio ads, effectively menacing Pandora’s bottom line. Apple’s streaming service is supposed to stream an audio ad for every 15 minutes of music. Apple will release iTunes Radio in iOS 7, which should be released shortly after the rumored September 10 press event. It will be available in iTunes for Mac and Windows as well. The company is still focused on mobile revenue as it increased 92 percent year over year. It remains to be seen whether the company will be able to hold the same trend in the coming quarters as more players are providing a customized radio experience. Over the past three months, Pandora got involved in heated debates over royalties. Many artists accused the streaming company of not paying enough royalties to music companies. The company had to defend its stance. Once again, most of the profit of this second quarter was spent
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ZzG1BYcmpxI/
Pandora Revenue Beats The Street, Grows 58% To $162M For Its Last Quarter Before iTunes Radio
Streaming radio platform Pandora just released its second quarter earnings, and it largely beat the street’s expectations. Total revenue increased 58 percent year over year to $162 million. The company reported non-GAAP EPS of -$0.04, a $7.8 million net loss. Analysts expected revenue of $156 million and non-GAAP earnings of $0.02 per share. Pandora managed to beat on revenue but was disappointing on earnings. Now 71.2 million users strong, the company reported 3.88 billion of listening hours over the quarter, representing a 18 percent year-over-year increase. Yet, Pandora reported 4.18 billion listening hours last quarter. Even though revenue is increasing, people are listening less to Pandora. Moreover, it is still losing money. Pandora is careful with its Q3 estimates as it expects between $174 million and $179 million in revenue with non-GAAP earnings per share between $0.03 and $0.06 after three quarters in the red. Yet, the big elephant in the room is iTunes Radio. Over the past seven days, most analysts expected Pandora to report stronger revenue and profit than anticipated. It was indeed the case but this second quarter represents the last quarter before the introduction of iTunes Radio and Pandora’s future looks gloomy. As the company notes, $116 million out of its $162 million reported revenue comes from its mobiles apps, or 71.6 percent. iOS is one of the two major platforms for Pandora, and it will now have to compete with a very similar product offering in the ‘Music’ apps. Even more worrying, advertisers could move from Pandora to iTunes Radio ads, effectively menacing Pandora’s bottom line. Apple’s streaming service is supposed to stream an audio ad for every 15 minutes of music. Apple will release iTunes Radio in iOS 7, which should be released shortly after the rumored September 10 press event. It will be available in iTunes for Mac and Windows as well. The company is still focused on mobile revenue as it increased 92 percent year over year. It remains to be seen whether the company will be able to hold the same trend in the coming quarters as more players are providing a customized radio experience. Over the past three months, Pandora got involved in heated debates over royalties. Many artists accused the streaming company of not paying enough royalties to music companies. The company had to defend its stance. Once again, most of the profit of this second quarter was spentOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/ZzG1BYcmpxI/
Share this article:
Tweet
View Full Article
Techcrunch
TechCrunch is a leading technology blog, dedicated to obsessively profiling startups, reviewing new Internet products, and breaking tech news.More About this Source Visit Techcrunch