Today, 4:14 PM
- Pandora (NYSE:P) has vaulted 6% after hours, beating revenue expectations for Q1 and raising its full-year outlook above expectations.
- EBITDA was a loss of $57.4M, beating expectations for a loss of $67.8M. Cash and investments came to $382.5M.
- Revenue breakout: Advertising, $220.3M (up 23.3%); Subscription and other, $54.7M (up 5.2%); Ticketing service, $22.3M (new). Of ad revenues, local advertising grew 42% to $61.3M.
- Listener hours grew 4% to 5.52B. Active listeners grew to 79.4M from a year-ago 79.2M.
- Guidance is in line for Q2 (revenues of $345M-$355M, and adjusted EBITDA loss of $30M to $20M), but the company raised expectations for the full year: revenues to $1.41B-$1.43B (up from $1.4B-$1.42B, and vs. expectations for $1.41B) and EBITDA loss of $70M-$50M (vs. previous forecast of a loss of $80M-$60M, and against consensus for a loss of $71M).
- Conference call to come at 5 p.m. ET.
- Press release
Today, 4:05 PM
Yesterday, 5:35 PM
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Thu, Feb. 11, 4:34 PM
- Though Pandora (NYSE:P) beat Q4 revenue estimates (while missing EPS estimates), the company is guiding for 2016 revenue of $1.4B-$1.42B vs. a $1.42B consensus. In addition, with planned investments in an on-demand streaming service set to weigh, adjusted EBITDA is expected to drop to -$60M to -$80M from 2015's $51.7M and 2014's $58.2M.
- Q1 sales guidance of $280M-$290M is in-line with a $284M consensus. Q1 adjusted EBITDA guidance is at -$65M to -$75M.
- Metrics: Active listeners totaled 81.1M in Q4, up by 3M Q/Q but down by 0.4M Y/Y. Listener hours totaled 5.37B, up moderately from Q3's 5.14B and Q4 2014's 5.2B. Competition from Apple, Spotify, and others has been weighing on listener growth and engagement.
- Q4 details: Ad revenue +22% Y/Y to $269M. Subscription/other revenue +19% to $57M. Ticketing revenue (via Ticketfly) totaled $10.2M. Content acquisition costs rose 24% Y/Y to $142.9M (43% of revenue) ahead of 2016's higher CRB rates. GAAP operating expenses rose 49% to $122.9M.
Ad RPM (revenue per 1K listener hours) rose to $57.25 from $48.19 a year ago - PC RPM was $68.83, and mobile/other device RPM was $55.14. Pandora ended 2015 with $416.9M in cash and $234.6M in long-term debt.
- P -5.3% after hours to $8.61. Shares rose 8.2% in regular trading following an NYT report stating Pandora is thinking of selling itself.
- Pandora's Q4 results, earnings release
Thu, Feb. 11, 4:04 PM
Wed, Feb. 10, 5:35 PM
Oct. 22, 2015, 6:15 PM
- In addition to slightly missing Q3 revenue estimates (while posting in-line EPS), Pandora (NYSE:P) is guiding for Q4 revenue of $325M-$330M, below a $351.9M consensus. No explanation is provided in the earnings release for the outlook.
- Active listeners (pressured by a variety of rivals) totaled 78.1M at the end of Q3, up from 76.5M a year ago but down from 79.4M at the end of Q2. Likewise, Q3 listener hours totaled 5.14B, +3% Y/Y but -3% Q/Q.
- Ad revenue +31% Y/Y to $254.7M, with local ad sales rising 52% to $63.5M. Subscription/other revenue rose 26% to $56.9M. Ad RPM (revenue per thousand listening hours) rose 28% to $56.84 - PC ad RPM was $71.88, and mobile/connected device ad RPM $54.31. Mobile revenue rose 36% Y/Y to $255.2M (82% of total revenue).
- Pandora has plunged to $15.41 after hours.
- Q3 results, PR
Oct. 22, 2015, 4:03 PM
- Pandora Media (NYSE:P): Q3 EPS of $0.10 in-line.
- Revenue of $311.6M (+30.1% Y/Y) misses by $1.37M.
- Shares -10%.
Oct. 21, 2015, 5:35 PM
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Jul. 23, 2015, 4:22 PM
- Pandora (NYSE:P) expects Q3 revenue of $310M-$315M (above a $309.2M consensus) and 2015 revenue of $1.175B-$1.185B (above a $1.17B consensus). Adjusted EBITDA guidance is respectively at $25M-$30M and $75M-$85M.
- Top-line performance: Q2 ad revenue +30% Y/Y to $230.9M. Subscription/other revenue +31% to $54.6M. Mobile revenue +37% to $229.7M (80% of total revenue). Local ad revenue +67% to $58.9M (21% of total).
- Metrics: Listener hours +5% Y/Y to 5.3B. Active listeners +4% to 79.4M. Ad RPMs rose to $49.94 from $40.11 a year ago - $74.35 for PCs, $46.15 for mobile/other devices.
- Financials: Content acquisition costs (royalties) rose 17% Y/Y to $130.1M (46% of revenue), but grew slower than revenue (30%). On the other hand, GAAP operating expenses rose 44% to $151.6M - sales/marketing spend totaled $94M, R&D $18.7M, and G&A $38.8M. Pandora ended Q2 with $461.5M in cash/investments, and no debt.
- Shares have risen to $14.41 AH.
- Q2 results, PR
- Update (7:40PM ET): Pandora is now up 10.2% AH.
Jul. 23, 2015, 4:04 PM
- Pandora Media (NYSE:P): Q2 EPS of $0.05 beats by $0.03.
- Revenue of $285.6M (+30.5% Y/Y) beats by $2.54M.
- Shares +2.4%.
Jul. 22, 2015, 5:35 PM
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Apr. 23, 2015, 4:24 PM
- Pandora Media (NYSE:P) has slipped 5.1% after hours despite a Q1 earnings beat, as it guides low on EBITDA for the second quarter.
- Adjusted EBITDA was -$20.9M, up 7% Y/Y and beating an expected -$30.8M.
- Revenue breakout: Advertising revenue of $178.7M (up 27%); subscription and other revenue, $52M (up 32%). Total mobile revenue came to $181.1M, up 35% on a non-GAAP basis.
- Listener hours grew to 5.3B, up 11% Y/Y. Active listeners were up to 79.2M from the prior year's 75.3M.
- The company's updated guidance to suggest Q2 revenue of $280M-$285M (on the high side of expected $280.3M), but EBITDA of $8M-$13M vs. an consensus of $14.6M. For full 2015, the company's expecting revenue of $1.16B-$1.18B (vs. consensus $1.16B) and adjusted EBITDA of $75M-$85M (vs. expected $76.7M).
- Pandora ended Q1 with $481.3M in cash and equivalents, up from Q4's $458.8M. Cash from operating activities was $27M.
- Conference call at 5 p.m. ET.
Apr. 23, 2015, 4:02 PM
- Pandora Media (NYSE:P): Q1 EPS of -$0.12 beats by $0.04.
- Revenue of $230.76M (+28.1% Y/Y) beats by $6.2M.
Apr. 22, 2015, 5:35 PM
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Pandora Media, Inc. provides an internet radio service in the United States, Australia and New Zealand. It offers a personalized experience for listeners to listen radio on smartphones, tablets, computers and car audio systems and Internet-connected devices. The company has developed a form of... More
Industry: Internet Information Providers
Country: United States
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