Pandora Reports Revenue Increase In Third Quarter
December 5, 2012

Pandora has reported its financial results for the Internet radio service's fiscal third quarter of 2013, with an impressive increase in revenue. However, a cautious guidance for the company's fourth quarter caused Pandora stocks to fall late Tuesday.

For Pandora's fiscal Q3, total revenue was up 60 percent to $120 million. Advertising revenue was $106.3 million, a 61 percent year-over-year increase, while subscription and other revenue was $13.7 million, a 52 percent increase. The company ended the quarter with $80.5 million in cash, cash equivalents and short-term investments, compared with $82.3 million at the end of the prior quarter.

Total listener hours grew 67 percent to 3.56 billion for the third quarter of Pandora's fiscal 2013, compared to 2.12 billion a year earlier.

"This quarter exceeded our expectations as we monetized mobile at record levels and grew total mobile revenue 112 percent," stated Joe Kennedy, Pandora Chairman/CEO. "During the quarter we launched Pandora 4.0, the biggest redesign on the iOS and Android platforms ever, bringing new, innovative and enhanced functionality to mobile devices for the first time for both users and advertisers."

Pandora's Q4 guidance predicts revenue to be between $120-123 million, with the company's fiscal full year revenue for 2013 between $422-425 million. However, Pandora also predicted a loss of between 6-9 cents per share in its fiscal Q4, missing Wall Street predictions. Late yesterday, Pandora stocks dropped over 20 percent in price, losing as much as $2/share at one point, down to $7.45. As of 11:30 a.m. today, Pandora was trading at $7.80/share.

Kennedy told Billboard.biz that the company was cautious in its guidance due to concerns about the U.S. economy and the potential effects of the "fiscal cliff."




 
Breaking News
iHeartMedia Names Colleen Valkoun Market President For Madison And Milwaukee
Cumulus Ups Donna Baker To Midwest RVP, Peter Bowen Named Chicago VP/MM
Triton Digital Partners With Edison Research To Deliver Podcast Measurement Technology
Cumulus Taps Jon Lurie As PD At KMGA
Ipsos Research Study Highlights Continued Strength Of AM/FM Radio In Cars
In Brief - March 2, 2015
February 27, 2015
Epic Records Names Breyon Prescott Head Of Urban A&R
The Week In Review: 2/23-2/27
Westwood One Rolls Out National Expansion Of The Jonathon Brandmeier Show
In Brief - February 27, 2015
February 26, 2015
Mel Karmazin To Be Honored By The Broadcasters Foundation Of America
Cox Media Group Names Rachel Williamson Director/Digital Revenue Development
New Generation Radio Launches Virtual Jock
Benztown Teams With Vipology To Bring Cost-Effective Websites To Radio
In Brief - February 26, 2015
February 25, 2015
iHeartMedia Announces Executive Changes
NAB Statement On Introduction Of Local Radio Freedom Act In House, Senate
Report: Radio’s 2015 Digital Revenue Poised For Double-Digit Growth
Coleman Insights, Jacobs Media Explore The Great Pyramids Of Radio
Republic Records Names Patch Culbertson Director of A&R
In Brief - February 25, 2015
February 24, 2015
106.1 KISS FM Changes Name To 106.1 LAURA FM
In Brief - February 24, 2015
February 23, 2015
Industry-Wide Consumer Awareness Campaign Launches For NextRadio
Jake Wisely Appointed CEO Of The Bicycle Music Company
Music News
All Apologies From Kanye West
The Week In Review: 2/23-2/27
FMQB Retro-Active: Aerosmith's Joey Kramer Talks Donington DVD, The Beatles, and Rockin and Roastin Coffee
Quick Hits: Mumford & Sons, Madonna, Beale Street Music Festival, Tool
Ed Sheeran, Sam Smith Rule BRIT Awards
Quick Hits: Foo Fighters, Carly Rae Jepsen, The Airborne Toxic Event, Echosmith, Finding Neverland Album with John Legend & Rita Ora
Imagine Dragons Roar To Top Debut
Quick Hits: U2, Firefly Festival, Nico & Vinz, Lady Gaga, Three Days Grace, Free Press Summer Festival
Sam Smith Set For Another U.S. Road Trip
Quick Hits: One Direction, Lorde, Brandon Flowers, Redfoo, Fuji Rock Festival
Quick Hits: John Legend & Common / The Oscars, Ed Sheeran, In This Moment, Passion Pit, Kaaboo Del Mar Festival, Pixies
Kanye Talks New Album & More With Power 105.1's Breakfast Club
The Week In Review: 2/16-2/20
Quick Hits: Foo Fighters / Sonic Highways, Coldplay, Squamish Valley Music Festival
Lil Wayne Working Up Free Weezy Album
FMQB NOW

Rob Roberts
OM/Cumulus Atlanta

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!