Pandora Q3 Results Top Estimates; Boosts FY14 Outlook

(RTTNews) - Pandora Media, Inc. (P) reported a net loss for the third quarter of $2.0 million or $0.01 per share, compared to a net loss of $4.1 million or $0.02 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $20.3 million or $0.09 per share, compared to $10.2 million or $0.05 per share in the prior year quarter.

Revenue for the third quarter rose to $239.59 million from $169.30 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.08 per share on revenue of $238.50 million for the third quarter. Analysts' estimates typically exclude special items.

Active listeners grew 5.2% to 76.5 million at the end of the third quarter of 2014, compared to 72.7 million from the same period last year.

Looking forward to the fourth quarter, the company forecasts revenue of $273 million to $278 million and adjusted earnings of $0.17 to $0.19 per share. Analysts currently expect the company to earn $0.17 per share on revenue of $272.75 million for the fourth quarter.

For the full Year 2014, the company now forecast adjusted revenue $912 million to $917 million and adjusted earnings of $0.19 to $0.21 per share. Previously, the company forecast adjusted revenue of $895 million to $915 million and adjusted earnings of $0.16 to $0.19 per share. Analysts currently expect the company to earn $0.18 per share on revenue of $911.58 million for the full year 2014.