- Pandora Media (NYSE:P) has slid 9.3% in postmarket trading after revenues fell just short in Q3 earnings where nice subscriptions growth nonetheless carried a flat advertising business.
- Net loss widened on a GAAP basis to $66.2M, while EBITDA improved to -$5.3M from a year-ago -$6.6M.
- Non-GAAP EPS of -$0.06 was $0.02 better than expected.
- Total subscribers reached 5.19M (up 29%); paid subscribers crossed the 1M mark in October.
- Listener hours fell to 5.15B from a year-ago 5.4B. Active listeners hit 73.7M and exclude 1.1M listeners from Australia/New Zealand as Pandora's exiting business there.
- Ad RPM hit an all-time high of $70.27, vs. the prior year's $58.10 (up 21%).
- Revenue by segment: Advertising, $275.7M (up 1%); Subscriptions, $84.4M (up 50%); Ticketing, $18.5M (down 16%).
- Cash and investments came to $499.4M at quarter's end, vs. last quarter's $227.6M.
- Guidance will be discussed on its conference call, to come at 5 p.m. ET.
- Press Release
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