Pandora Media (P) Tops Q3 EPS by 1c; Lifts Outlook

Pandora Media (NYSE: P) reported Q3 EPS of $0.09, $0.01 better than the analyst estimate of $0.08. Revenue for the quarter came in at $239.6 million versus the consensus estimate of $236.5 million.

Share of total U.S. radio listening for Pandora in September 2014 was 9.06%, an increase from 7.77% at the same time last year.

Listener Hours: Total listener hours grew 25% to 4.99 billion for the third quarter of 2014, compared to 3.99 billion for the same period last year.

Active Listeners: 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

Q4 revenue is expected to be in the approximate range of $273 million to $278 million. Non-GAAP diluted EPS is expected to be between $0.17 and $0.19. The consensus is $272.8 million and $0.17.

FY 2014 Non-GAAP revenue is now expected to be in the approximate range of $912 million to $917 million, up from prior full-year guidance of $895 million to $915 million. Non-GAAP diluted EPS is expected to be between $0.19 and $0.21, up from prior full-year guidance of $0.16 and $0.19. The consensus is $911.6 million and $0.18.

“Our business is on-track and operating as planned, with accelerating advertising revenue growth and record RPMs, the result of increased mobile monetization and scale,” stated Brian McAndrews, Chairman, President and CEO of Pandora. “At the same time we’re excited to have established Pandora AMP, the Artist Marketing Platform, generated from tens of billions of hours of personalized listening. Pandora AMP offers meaningful data and insights to all 125,000-plus artists played on the service, and will help artists with critical decisions such as tour routing, set lists and title tracks."

For earnings history and earnings-related data on Pandora Media (P) click here.

You May Also Be Interested In

• Alphabet stock surges 11% to record high on Q1 earnings beat, first-ever dividend
• Portland General Electric (POR) Tops Q1 EPS by 6c
• Snap (SNAP) Tops Q1 EPS by 29c, Offers Guidance