NEW YORK (
shares continued their climb, rising 6.2% in pre-market trading Friday after reporting
during its first post-IPO earnings report.
Excluding items, the online radio company reported an adjusted profit of 2 cents per share on revenue of $67 million. Analysts had expected Pandora to break even on a per share basis on revenue of $60 million.
said Thursday it is shutting down
, the social apps company it purchased for $200 million less than a year ago. Max Levchin, Slide's founder (as well as a co-founder of
), will leave Google as well.
Shares of Google fell 0.8% to $515.92 in pre-market trading on Friday.
, a Web site that provides reviews to consumers for neighborhood services like floor cleaning and roofing, filed for an initial public offering. The company posted revenue of $59 million in 2010 and a net loss of $27.2 million.
The offering is just one of several filings by unprofitable companies this week, which include
is reportedly working with prominent M&A law firm Wachtell, Lipton, Rosen & Katz as well as boutique investment bank Allen & Co., the company confirmed. The move raises suspicion that the embattled Internet company may be putting itself up for sale.
AOL has seen its share price decline 41% in the last year as it has struggled to transition away from its dial-up Internet business and grow its online advertising revenue.
is said to be exploring opening an international headquarters in Switzerland for tax reasons, according to the
Wall Street Journal
. The daily deals company,
, would still be based in Chicago, but would rely on its Swiss office to handle finances for its international operations.
--Written by Olivia Oran in New York.
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