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Pandora (P) Beats Q2 Earnings, Down 6.8% on Missed Revenue

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Pandora Inc. just released its Q2 2016 earnings results, posting earnings of -$0.26 per share and revenue of $343 million.   

Currently, Pandora has a Zacks Rank #4 (Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Pandora:

Beat earnings estimates. The company posted earnings of -$0.26 per share (Excluding $0.07 from non-recurring items), beating our Zacks Consensus Estimate of -$0.30.

Missed revenue estimates. The company saw revenue figures of $343 million, missing our estimate of $352 million. 

“We are making strong progress on Pandora’s transformation into a complete music marketplace,” said Pandora Founder and CEO Tim Westergren. He continued, stating that “We made considerable progress on our product development while also improving margins sequentially. Pandora plans to deliver a powerfully differentiated music experience to accelerate growth and deliver value to listeners, music makers, advertisers and ultimately shareholders.”

Total listener hours grew 7% to 5.66 billion for the Q2 2016, compared to 5.3 billion the same time last year. Active listeners were 78.1 million at the end of the second quarter of 2016, compared to 79.4 million at the same point last year.

P was down $0.82, or 6.83%, to $11.18 as of 4:28 p.m. EDT in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at Pandora’s latest earnings performance:

PANDORA MEDIA Price and EPS Surprise

PANDORA MEDIA Price and EPS Surprise | PANDORA MEDIA Quote

Pandora Media, Inc. provides internet music streaming services in North America. The company allows its listeners to create personalized stations to access free music and comedy catalogs, as well as personalized playlist generalized generating system; and offers Pandora One, a paid subscription service to its listeners.

Check back later for our full analysis on Pandora Inc.’s latestquarterly earnings report!

If you want information on how to trade during earnings, check out the Zacks Market Edge Podcast below.

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