Pandora Reports Record Revenue In Fiscal Q2
August 22, 2013

Pandora has reported record financial results for the second quarter of the popular music service's fiscal 2014 year. Total revenue was $157.4 million, up 55 percent from a year earlier. Ad revenue in the quarter was $128.5 million, a 44 percent increase from Q2 2013. Non-GAAP total mobile revenue was up 92 percent to $116 million. Pandora also saw its net loss in the quarter grow, from $5.4 million a year ago to $7.8 million.

Total listener hours grew 18 percent to 3.88 billion for the quarter, compared to 3.3 billion for Q2 of fiscal 2013. Pandora also claims a 7.08 percent share of total U.S. radio listening, up from 6.02 percent a year ago. Active users reached 71.2 million, a 30 percent increase year-to-year.

"Our second fiscal quarter was an important inflection point in Pandora's history. Strong momentum in our mobile business, with non-GAAP total mobile revenue growing 92 percent year-over-year to $116 million, clearly demonstrates the leverage in Pandora's business model," said Joe Kennedy, Chairman/CEO of Pandora. "To drive future growth, we are accelerating investment in new technologies, channels and capabilities that maximize the value Pandora delivers."




 
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Jon Zellner
SVPP, iHeartMedia

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