Thu, Oct. 22, 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
Thu, Oct. 22, 4:03 PM
Wed, Oct. 21, 5:35 PM
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Thu, Jul. 23, 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.
Thu, Jul. 23, 4:04 PM
Wed, Jul. 22, 5:35 PM
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Thu, Apr. 23, 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.
- Press release
Thu, Apr. 23, 4:02 PM
Wed, Apr. 22, 5:35 PM
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Thu, Feb. 5, 4:13 PM
- Pandora (NYSE:P) is off significantly after hours, -19.9%, after an earnings report that missed on revenue, and which featured light guidance.
- Revenue of $268M inclued $220.1M in advertising revenue (up 36%) and $47.9M in subscription revenue (up 24%).
- Adjusted EBITDA of $43.8M (up 68%) vs. an expected $45.5M.
- The company stated an outlook for fiscal Q1 of revenues in the range of $220M-225M, vs. consensus expectations of $241.8M, and adjusted EBITDA of -$35M to -$30M vs. expectations of -$9.6M.
- Press release
Thu, Feb. 5, 4:08 PM
Wed, Feb. 4, 5:35 PM
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Tue, Feb. 3, 5:35 PM
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Nov. 3, 2014, 5:35 PM
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Oct. 23, 2014, 6:18 PM
- Though its results and guidance beat expectations, Pandora (NYSE:P) reports it had 76.5M active listeners at the end of Q3, barely above the 76.4M it had at the end of Q2 and up only 5.2% Y/Y. Questions about the impact of competition are bound to come up.
- Listener hours totaled 4.99B, -1% Q/Q and +25% Y/Y; Y/Y growth benefited from the presence of a 40-hour free mobile listening cap during part of Q3 2013. Pandora's share of U.S. radio listening rose to 9.06% in September from 8.9% in June and 7.77% a year ago.
- Total Q3 ad revenue per thousand ad-supported listener hours (RPM) rose to $44.35 from $40.11 in Q2 and $39.68 a year ago. PC ad RPM +10% Y/Y to $64.13; mobile ad RPM +16% to $40.82.
- The RPM gains helped ad revenue rise 44% to $194.3M. Subscription/other revenue rose 25% to $45.3M. GAAP opex rose 48% to $114.8M, and content acquisition costs (driven by royalties) 33% to $111.3M.
- P -6.1% AH. Q3 results, PR
Oct. 23, 2014, 4:06 PM
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