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TheStreet Open House

Pandora (P) Improves After Thursday's Losses, Sirius XM (SIRI) Follows

NEW YORK (TheStreet) -- After plummeting on Thursday following soft guidance, Pandora (P) managed to reclaim some ground on Friday. On Tuesday, competitor Sirius XM (SIRI) beat expectations in its own earnings release.

By market close, Pandora was 6.6% higher to $34.34, but 4.8% lower for the week. Sirius added 1% to $3.48 over Friday, but lost 2.7% since Monday.

Oakland, Calif.-based Pandora issued full-year guidance for net income between 13 cents and 17 cents a share. Analysts surveyed by Thomson Reuters had expected net income of 19 cents a share.

In the first quarter ended March, management anticipates a loss of 16 cents to 14 cents a share, compared to a forecast loss of 12 cents. Lower profits are the result of rising costs as the company expands its market share.

In January, Oakland-based Pandora active listeners dropped nearly 4% from December, a result of seasonal fluctuations, but were up 12% from a year earlier.

Guidance overshadowed Pandora's fourth-quarter results which came in better than expected. The company reported fourth-quarter net income of 11 cents a share on $200.8 million in revenue. Analysts anticipated earnings of 7 cents a share on sales of $201.1 million.

On Tuesday, Sirius XM posted record full-year revenue of $3.8 billion, 12% higher than a year earlier, and fourth-quarter sales of $1 billion. Total sales exceeded analysts' full-year and fourth-quarter expectations of $3.78 billion and $981.9 million, respectively.

Net income of 1 cent a share missed consensus by a penny. Full-year earnings of 6 cents a share was just shy of the 7 cents a share analysts had expected.

Management reiterated existing 2014 guidance of revenue of more than $4 billion and net subscriber additions totaling 1.25 million.

Must Read: Pandora Rebounds After Sharp Selloff

Must Read: The Amazon Way at Pandora

Must Read: Wall Street Must Demand Answers From Pandora ... Now

Must Read: Sirius XM (SIRI) Scores With Record Revenue, Subscribers

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