Credit: Shutterstock photoPandora Media Inc. P just released its fourth quarter of 2016 financial results, posting a loss of $0.27 per share and revenues of $393 million.
Currently, Pandora is a Zacks Rank #3 (Hold), and is down 2.4% to $12.62 per share in trading shortly after its earnings report was released.
Pandora
Beat earnings estimates . The company posted a loss of $0.27 per share (excluding $0.11 from non-recurring items), beating the Zacks Consensus Estimate of a loss of $0.36 per share.
Beat revenue estimates . The company saw revenue figures of $393 million, also beating our consensus estimate of $377.8 million.
Pandora saw 19% year-over-year growth in 2016's total consolidated revenue of $1.385 billion. Subscribers also grew 12% to 4.39 million at the end of the quarter, compared to 3.93 million during the same period last year. However, the company also suffered from a $90 million GAAP net loss this quarter, compared to $19.4 million in the same quarter last year.
The company is expecting their revenue to be between $310 million to $320 million for the first quarter of 2017. Pandora is also expecting an adjusted EBITDA loss of $80 million to $70 million.
"We made significant progress in 2016 by driving leverage in our core business while accelerating subscriptions to our paid product," said Tim Westergren, founder and CEO of Pandora. "We enter 2017 laser-focused on the growth of our ad-supported business, the launch and growth of our subscription products, and an artist-to-fan platform to drive listener engagement and ticket sales."
Here's a graph that looks at Pandora's price, consensus and EPS surprise:
Pandora Media, Inc. Price and Consensus
Pandora Media, Inc. Price and Consensus | Pandora Media, Inc. Quote
Pandora Media, Inc. operates as a provider of Internet radio in the United States. It provides services to traditional computers, smartphones, such as Android phones, Blackberry phones and the iPhone. When a listener enters a single song, artist, composer or genre to start a station, its mathematical algorithms combine the genes cataloged with individual and collective feedback to suggest songs and build personalized playlists. The Company also offers advertising solutions addressing advertising markets: online display, rich media and video, mobile and broadcast radio. Pandora Media, Inc., formerly known as Savage Beast Technologies Incorporated, is based in Oakland, California.
Check back later for our full analysis on Pandora earnings report!
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Pandora Media, Inc. (P): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
