Pandora’s first quarter reporting isn’t turning out so well.
On April 24th the company announced they had $194.3 million in revenue, a 69 percent rise and higher than the $177.7 million that was expected. They had a $0.13 loss per share.
Pandora’s ad sales were at $140.6 million, a 45 percent rise. Their listener hours were at 4.80 billion, a 12 percent rise. Pandora users make up 9.1 percent of all radio listening in the United States.
The company’s second quarter projections expect revenue of $213 million to $218 million, with per-share profit at $0 – $0.03.
Pandora’s losses are decreasing and their numbers are growing… but investors are still unimpressed with the news. Pandora stock went down 5.1 percent in after hours trading.
As of Apr 25 2:29 PM ET Pandora’s stock is down 15.96 percent at $23.71.
Update: At the end of the day on April 25th Pandora’s stock was down 16.6 percent at $23.51.
When Nina Ulloa isn’t writing for DMN she’s usually reviewing music or at a show. Follow her on Twitter.