This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Pandora Boosted By Break-Even Results

NEW YORK ( TheStreet) -- Pandora (P - Get Report) beat second-quarter earnings expectations, sending shares sharply higher after the results.

With revenue growing 51% year-over-year to $101.3 million in the fiscal second-quarter, the company broke even on a per share basis, which beat analysts' estimates.

Analysts polled by Thomson Reuters expected the Internet radio provider to lose 3 cents a share on $100.94 million in revenue.

"This quarter exceeded our expectations as our strong momentum continues with both listeners and advertisers," said Joe Kennedy, Chairman & CEO of Pandora, in the company press release. "In particular, this quarter demonstrated that our mobile monetization strategies are working."

The company ended the second quarter with $82.3 million in cash, up from $80.6 million at the end of the first quarter.

Third-quarter guidance also beat Wall Street estimates. The company expects sales between $115 million and $118 million. Earnings on a non-GAAP basis are expected to be between break-even and a penny a share. Analysts polled by Thomson Reuters are looking for break-even on earnings and $114.36 million in revenue.

For the 2013 fiscal year, Pandora said it expects to lose between 4 cents and 8 cents a share on revenue between $425 million and $432 million. Wall Street is looking for a loss of 11 cents a share on $424.16 million in sales.

Shares of Pandora ended the day slightly lower, off 0.98% to close at $10.08. Shares are soaring higher in after-hours trading, up 9.92% to $11.19 on 700,000 shares according to Nasdaq.com.

Interested in more on Pandora? See TheStreet Ratings' report card for this stock.

-- Written by Chris Ciaccia in New York

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
P $18.20 -0.71%
AAPL $130.89 -1.20%
FB $79.92 -0.77%
GOOG $530.73 -1.70%
TSLA $249.03 0.52%

Markets

DOW 18,072.27 -159.75 -0.88%
S&P 500 2,108.13 -17.93 -0.84%
NASDAQ 5,033.0330 -56.3290 -1.11%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs