Pandora Plunges After Soggy Earnings Report…

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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.

8 Responses

  1. Anonymous

    “Pandora users make up 9.1 percent of all radio listening”

    Except Pandora isn’t radio…

    • Anonymous

      It’s the same concept, with slightly more control for the user.

      • TuneHunter

        Pandora as we have it is just milder than Spotify (read streamers) or YouTube pesticide for music industry and conventional Radio.
        They are shrinking 150 billion dollar of potential music and actual Radio revenues to maximum $35G in 2025.

        Today global Radio (43B) and global recording industry (15B) bring 58 billion dollars per annum but all fashionable friends of labels are working very hard to make it 35B in 2025. Drugs? Voodoo? or VeeVoooo? Please help me!

  2. Casey

    Pandora could see some pains in 2014. Competition is growing hotter. Their relationship with labels/artists continues to grow more tense. They have raised the price of Pandora One too high. $48-60 per year for Pandora One vs. $25 for iTunes Radio is certainly not competitive. Combined with their decision to axe annual subscriptions, Pandora could lose a significant amount of subscribers. Though that almost seems to be their goal.

    • TuneHunter

      Pandora and XM is overdue to become 5 billion dollar music stores.

      Let’s lobby-in new “fair use doctrine” and enslave (in golden chains) Shazam and other music ID services to carry cash into the banks of starved music industry participants.

      • Dave

        Hahaa I’ve got to hand it to you, you don’t give in.

        I’m still not sure if you’re joking but either way you’re off your tits you mate.

        • TuneHunter

          I am very set on my vision of 100 billon dollar industry. It took 1500 years to finish dark ages.

          For a moment streaming is the center of universe so I hope it will take just 5 years to stop sun from running around the earth!

  3. hippydog

    A lot of the tech stocks seem to have been hit this quarter..