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
Nielsen Insights: Their Generation
NAB Statement on Court Ruling on Media Ownership Rules
Republic Records Celebrate DNCE Going Double Platinum
May 24, 2016
iHeartMedia Wins Legal Battle
Spotify's Losses Increase As Revenues Grow Faster
Pierre Bouvard: The TV Upfront: History, 2016 issues, and What It Means For Radio
United Stations Adds Sammy Hagar's Radio Show
May 23, 2016
Columbia Records Announces Jennifer Frommer As Head of Its Creative Agency
iHeartRadio Summer Pool Party Heats Up Miami
National Radio Hall of Fame Announces 2016 Nominees
Shelley Wade Named Afternoon Host at KMYI (Star 94.1)/San Diego
Spotify's Family Plan Gets An Upgrade
May 20, 2016
eQB NOW
May 19, 2016
Republic Records Promotes David "Davey Dee" Ingenloff to SVP/Rhythm Crossover Promotion
WLLD (WiLD 94.1)/Tampa Goes Nuts In PM Drive & Grabs A Franchize At Night
Mike Mathewson Named VP/Marketing For Columbia Records
Universal Music Forms Verve Label Group, Appoints Danny Bennett as President/CEO
Entravision Promotes Don Daboub To EVP/Integrated Marketing Solutions
May 18, 2016
Rare On-Air Opening At Power 106 Los Angeles
Ross Mahoney Named PD/PM Drive Host At KXTE/Las Vegas
Erika Alfredson Named VP/Marketing For Columbia Records
May 17, 2016
SBS Reports First Quarter Results
Westwood One Backstage At the BBMAs To Feature Exclusive Content And Pop Trio Bahari
In Brief - May 17, 2016
Music News
The Weeknd Tops Billboard Music Award Winners
Quick Hits: Teen Choice Awards, Bon Jovi, The Killers
Quick Hits: Eminem, Mariah Carey, Red Nose Day TV Special, My Morning Jacket, The Tragically Hip
Drake Stays at #1, Meghan Trainor Debuts at #3 on Billboard 200
Quick Hits: Red Hot Chili Peppers, Megadeth, Ramones
Drake Leads Nominees For 2016 BET Awards
Quick Hits: Adele, Fifth Harmony, Life is Beautiful festival, Beastie Boys
Quick Hits: Chevelle, Rage Against The Machine / Prophets of Rage, 3 Doors Down, Make America Rock Again tour
Ariana Grande, Calvin Harris & More Headlining Billboard Hot 100 Festival
Quick Hits: MuchMusic Awards, Guns N' Roses / Lenny Kravitz / Alice in Chains, Rage Against The Machine, Riot Fest
Puff Daddy Takes Bad Boy Reunion on the Road
Quick Hits: Justin Timberlake, Houston Open Air, The Temper Trap, High Elevation Rock Festival, Pilgrimage Music & Cultural Festival, Lou Reed
Drake Stays Atop Billboard 200, Radiohead Debut at #3
Quick Hits: Adele, Red Hot Chili Peppers, Sia, Oasis
Ozzfest and Knotfest Combine Forces
FMQB NOW

John Mayer
PD, WFLZ/Tampa

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!