NEW YORK (TheStreet) -- Shares of Pandora Media, Inc. (P - Get Report) are down 11.70% to $25.36 on very heavy trading volume as the largest Internet radio service slid the most in three months after listener growth missed some analysts' estimates, Bloomberg reports.
Pandora released its quarterly results yesterday where profit beat projections and the company raised its 2014 outlook.
Second quarter earnings came to 4 cents a share, excluding items. Analysts predicted 3 cents. Sales were up 43% to $218.9 million, beating the $218.7 million average estimate.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts