Pandora’s Loss Widens, but Revenue Rises
Pandora’s Loss Widens, but Revenue Rises

While focusing on growing its user base, Pandora's losses have widened in the first quarter ending March 31. The company posted a net loss of $48.3 million, or 23 cents per diluted share.

However, the digital radio service's revenue has grown by bringing in $230.8 million, an 18.8% increase over the $194.3 million that was generated in the first quarter of 2014.

During the quarter, advertising revenue growth has remained strong, totaling $178.7 million, an increase of 27.1%. Subscription revenue has shown a 3.1% decline, to $52 million.

In the Q1, the listener hours showed 11% growth, 5.3 billion in total, while active listeners also grew 5.6% to 79.2 million, as compared to 75.3 million in the corresponding period last year.

In a statement, Pandora chairman, president and CEO Brian McAndrews said, “We've been actively investing in every part of our business -- from the music we play, to the ad technology and music-maker products we offer. This quarter's results are a reflection of those investments paying off’.

While looking forward, the company has provided financial guidance, projecting revenue for the second quarter to reach around $280-285 million, with full-year revenue expected to touch $1.16-1.18 billion.

In Q1, adjusted losses before income, taxes, depreciation and amortization were $20.8 million, which were down from the $22.4 million in negative EBITDA in Q1 2014.

The company is holding $221 million in cash and $188.5 million in accounts receivable. Its shareholder equity is $562.7 million in total.

The share price of the company closed at $17.71, right before release of its financial results, with a gain of $0.20 over the previous day.

Check out More news from Recruitment News :: Admissions :: Exam Results :: Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate