Pandora Rises on Stronger Fourth-Quarter Forecast
Pandora also announced plans to cut 7% of its workforce.
Pandora (P) shares rose Friday after streaming a stronger fourth-quarter revenue outlook to investors and announcing plans to trim its workforce by about 7%. Pandora now expects to generate more than the $362 million to $374 million in revenue it had previously forecast for the quarter.
The company said that is has surpassed 4.3 million paid subscribers, thanks in part to the 375,000 new subscribers added by its just-launched Pandora Plus premium services.
Pandora is scheduled to release its fourth-quarter and full-year financials on Feb. 9.
