The company said in its first-quarter earnings report it expects adjusted earnings per diluted share to be between flat and 3 cents on revenue in the range of $213 million to $218 million in the second quarter. Analysts had expected earnings of 5 cents a share on revenue of $219.34 million.
RBC Capital Markets also cut its 2015 forecast for Pandora because the guidance "implies substantial, and somewhat hard to believe, revenue growth deceleration."
Pandora did, however, issue full-year guidance in line with analysts' estimates. The company expects EPS of 14 cents to 18 cents on revenue of $880 million to $900 million, while analysts had expected EPS of 16 cents on revenue of $892.31 million.The stock was down 6.55% to $21.97 at 12:44 p.m. on Monday. Must Read: Warren Buffett's 10 Favorite Growth Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
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