Pandora’s latest earnings report didn’t strike quite the right note with investors
The Internet radio service posted earnings of $ 0.04 a share on revenue of $ 218.9 million in the June quarter, beating Wall Street estimates on both counts. However, the company projected that earnings in the upcoming quarter would be between $ 0.05 and $ 0.08, coming in below many analyst estimates.
The stock dipped by as much as 13% in after hours trading following the earnings report
As Rich Greenfield, an analyst at BTIG, pointed out on Twitter, growth in the number of active Pandora listeners appears to be slowing. There were 76.4 million active users in the June quarter, up just more than 1% from the previous quarter and 7.5% from the same quarter a year earlier Read more…