Pandora Boosts Revenue 60%
Internet radio purveyor Pandora (NYS: P) announced results for its third quarter yesterday, saying its total revenue for the quarter was $120 million while net profit was slightly above $2 million ($0.05 per share).
Both figures were higher than the corresponding period in the previous year. Revenue for this period saw an increase of 60% year-over-year, while the bottom line more than tripled.
However, Pandora's guidance for the fourth quarter came in significantly lower than analyst expectations. The company anticipates revenue of $120 million-$123 million for the quarter, and an EPS loss of $0.06-$0.09. The market had previously expected a top line of $130 million and a positive EPS of $0.01, according to Thomson Reuters poll results quoted by The Wall Street Journal.
The company also offered full-year 2013 guidance. It believes revenue for the period will be $422 million-$425 million, with a net loss amounting to $0.09-$0.12.
The article Pandora Boosts Revenue 60% originally appeared on Fool.com.Eric Volkman has no positions in Pandora. The Motley Fool has no positions in Pandora. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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