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.
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