Pandora Media Profit Tops View, Lifts Outlook; Shares Up 9%

(RTTNews) - Pandora Media, Inc. (P) Thursday reported second-quarter net loss of $16.1 million or $0.08 per share, wider than last year's loss of $11.7 million or $0.06 per share.

Adjusted earnings for the quarte rose to $0.05 per share from $0.04 per share last year.

Total revenues for the quarter were $285.6 million, up from last year's 218.9 million.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share on revenues of $283.06 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company expects revenues of $310 million to $315 million. Analysts currently estimate revenues of $309.2 million.

For the full year, the company expects revenue of $1.175 billion to $1.185 billion, up from prior outlook of $1.16 billion to $1.18 billion. Analysts currently estimate revenues of $1.17 billion for the quarter.

Pandora shares gained about 9 percent in the after-hours trade, following the news.