Internet radio company Pandora Media Inc. (NYSE: P) reported earnings after markets closed yesterday that were down slightly from analysts’ expectations. The company reported a quarterly loss of -$0.03, more than the consensus estimate for an EPS loss of -$0.02. Revenue came in at $81.3 million, compared with a consensus estimate of $83.1 million.
Pandora, which follows an advertising model, competes with Sirius XM Radio Inc. (NASDAQ: SIRI) and privately held Spotify, among others, for listeners. Sirius, with its subscription model and penetration into the new car market, has seen its prospects rise in the fourth quarter of last year and continue this year.
The worse news was Pandora’s outlook for the current quarter: an adjusted EPS loss of -$0.18 to -$0.21 on revenue of $72-$75 million. The consensus revenue estimate had been $86 million and an EPS loss of -$0.02.
Pandora shares are down nearly -26% in pre-market trading this morning, at $10.58 in a 52-week range of $9.15-$26.00. Sirius shares are up about 0.7% at $2.23 in a 52-week range of $1.27-$2.44.
Credit Card Companies Are Doing Something Nuts (Sponsor)
We’ve been writing about ways to make, save, and invest money for over 20 years. But some of the cash back credit card rewards today still make our jaws drop. There are $200 cash bonuses, 3% back on gas and groceries, $0 fees, and even some 5% rewards out there right now. For the average American that could mean hundreds, even thousands of dollars on rewards a year.
Don’t miss out on rewards this good, there is no saying how long they’ll last. Click here to see our top picks.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
