Internet radio company Pandora Media Inc. (P) reported a net loss for the first quarter of $28.6 million or $0.16 per share, compared to a net loss of $20.2 million or $0.12 per share for the year-ago quarter.
Excluding items, adjusted net loss for the first quarter was $18.2 million or $0.10 per share, compared to an adjusted net loss of $14.0 million or $0.08 per share in the prior year quarter.
Revenue for the first quarter rose 55% to $125.51 million from $80.78 million a year ago, while adjusted revenue increased 58% to $128.5 million from $81.53 million last year.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.10 per share on revenue of $123.83 million for the first quarter. Analysts' estimates typically exclude special items.
Looking forward to the second quarter, the company forecast adjusted revenue of $155 million to $160 million and adjusted EPS between a loss of $0.02 per share and a profit of $0.01 per share. Analysts currently expect the company to earn $0.01 per share on revenue of $149.70 million for the second quarter.
For the fiscal year 2014, the company now forecast adjusted revenue of $615 million to $635 million and adjusted EPS between a loss of $0.02 per share and a profit of $0.08 per share. Previously, the company forecast revenue of $600 million to $620 million and adjusted EPS between a loss of $0.05 per share and a profit of $0.05 per share.
Analysts currently expect the company to earn $0.01 per share on revenue of $616.73 million for the fiscal year 2014.
For comments and feedback: editorial@rttnews.com