Pandora's Mobile Ad Revs Soar 92%

Revenue at online radio service Pandora increased 55% to $157.4 million in the second quarter, as mobile ad sales nearly doubled from a year ago. It reported adjusted earnings of 4 cents per share.

Analysts were expecting Pandora to earn 2 cents a share on revenue of $155.7 million.

Pandora said mobile advertising in the quarter increased 92% to $116 million, while overall advertising rose 44% to $128.5 million. Subscription revenue was up 153% to $33.5 million.

Total listener hours grew 18% to 3.88 billion from 3.3 billion a year ago.

For the third quarter, Pandora forecast earnings between 3 cents and 6 cents a share on revenue of $174 million to $179 million. That compares to analysts projects of earnings per share of 8 cents on revenue of $170.7 million.

For the full year, the company said it could break even or earn 5 cents per share. It previously projected losing 2 cents or earnings 8 cents. Wall Street projected 5 cents in earnings.

Pandora raised its revenue outlook to a range of $640 million to $655 million. Analysts were looking for $632.9 million.

The company's shares, which closed Thursday at $21.71, were down about 2% in after-hours trading following its earnings announcement.

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1 comment about "Pandora's Mobile Ad Revs Soar 92%".
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  1. Michael Mcmahon from ROI Factory / Quick Ops, August 24, 2013 at 9:52 a.m.

    Pandora also hired internet marketing giant Lisa Cross during this period and it's likely that some of this improvement is due to her efforts. Great work Lisa!