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.
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
