Pandora Media Inc. just released its third quarter fiscal 2016 financial results, posting earnings of a loss of 19 cents per share and revenue of $351.9 million. P is a Zacks Rank #3 (Hold), and is down 8.37% to $11.16 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company reported earnings of a loss of 19 cents per share, topping the Zacks Consensus Estimate of a loss of 21 cents per share. This number excludes 8 cents from non-recurring items.
Missed revenue estimates. The company saw revenue figures of $351.9 million, lagging behind our consensus estimate of $366 million but growing 15% year-over-year.
Pandora reported total listener hours of 5.40 billion for the quarter, up 5% year-over-year.
For Q4, revenue is expected to be in the range of $362 million to $374 million, and for full-year 2016, Revenue is expected to be in the range of $1.354 billion to $1.366 billion.
“Pandora’s transformation continues with the launch of compelling new products and partnerships that open up significant revenue streams," said Tim Westergren, Founder and CEO of Pandora. “Only Pandora is uniquely positioned to create deeply personalized and easy to use listening experiences that delight and engage listeners. A great product that’s effectively monetized is the cornerstone of success in digital music streaming.”
Here’s a graph that looks at Pandora’s price, consensus, and EPS surprise:
Pandora Media, Inc. operates as a provider of Internet radio in the United States. When a listener enters a single song, artist, composer or genre to start a station, its mathematical algorithms combine the genes cataloged with individual and collective feedback to suggest songs and build personalized playlists. The Company also offers advertising solutions addressing advertising markets: online display, rich media and video, mobile and broadcast radio. Pandora Media, Inc., formerly known as Savage Beast Technologies Incorporated, is based in Oakland, California.
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Pandora (P) Plummets Over 8% on Earnings Loss, Weak Guidance
Pandora Media Inc. just released its third quarter fiscal 2016 financial results, posting earnings of a loss of 19 cents per share and revenue of $351.9 million. P is a Zacks Rank #3 (Hold), and is down 8.37% to $11.16 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company reported earnings of a loss of 19 cents per share, topping the Zacks Consensus Estimate of a loss of 21 cents per share. This number excludes 8 cents from non-recurring items.
Missed revenue estimates. The company saw revenue figures of $351.9 million, lagging behind our consensus estimate of $366 million but growing 15% year-over-year.
Pandora reported total listener hours of 5.40 billion for the quarter, up 5% year-over-year.
For Q4, revenue is expected to be in the range of $362 million to $374 million, and for full-year 2016, Revenue is expected to be in the range of $1.354 billion to $1.366 billion.
“Pandora’s transformation continues with the launch of compelling new products and partnerships that open up significant revenue streams," said Tim Westergren, Founder and CEO of Pandora. “Only Pandora is uniquely positioned to create deeply personalized and easy to use listening experiences that delight and engage listeners. A great product that’s effectively monetized is the cornerstone of success in digital music streaming.”
Here’s a graph that looks at Pandora’s price, consensus, and EPS surprise:
PANDORA MEDIA Price, Consensus and EPS Surprise
PANDORA MEDIA Price, Consensus and EPS Surprise | PANDORA MEDIA Quote
Pandora Media, Inc. operates as a provider of Internet radio in the United States. When a listener enters a single song, artist, composer or genre to start a station, its mathematical algorithms combine the genes cataloged with individual and collective feedback to suggest songs and build personalized playlists. The Company also offers advertising solutions addressing advertising markets: online display, rich media and video, mobile and broadcast radio. Pandora Media, Inc., formerly known as Savage Beast Technologies Incorporated, is based in Oakland, California.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>