Originally published at www.seclive.com
Filing in Focus: Pandora 8-K, November 21, 2013
Pandora Media, Inc. (NYSE:P) announced its third fiscal quarter 2014 financial results, posting a net loss of $1.7M. This quarter marked a record quarter in revenue, with the company generating $181.6M in revenue, a 50% improvement from the year-ago quarter. Revenue from mobile devices has improved drastically, with mobile advertising revenues increasing 58% year-over-year to $104.9M. Currently Pandora has 70.9 million active users, a 20% increase from a year ago. Despite all the positive figures, the company posted a net loss of $1.7M and losses per share of $0.01. Chairman, President, and CEO Brian McAndrews commented that the company continues to monetize in all aspects and that it plans to invest aggressively to deliver the most personalized radio service.