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."