For the second quarter Pandora reported earnings of 4 cents a share, beating the consensus estimate of analysts surveyed by Thomson Reuters of 3 cents by 1 cent. Revenue grew 43% year-over-year to $218.9 million for the quarter, compared to analysts' estimates of $218.54 million.
Subscription/other revenue grew 35% to $41.6 million in the quarter, down from 94% growth in the first quarter.
Looking forward to the third quarter Pandora expects revenue of $235 million to $240 million and revenue of 5 cents to 8 cents a share. Analysts expect revenue of $234.6 million and earning of 8 cents a share for the quarter.Must read: Warren Buffett's 25 Favorite Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates PANDORA MEDIA INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation: "We rate PANDORA MEDIA INC (P) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been generally deteriorating net income." P data by YCharts STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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