Pandora Media Q2 Loss Widens; Boosts FY14 Outlook - Quick Facts

(RTTNews) - Internet radio company Pandora Media Inc. (P) reported a net loss for the second quarter of $7.8 million, or $0.04 per share, wider than $5.4 million or $0.03 per share in the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $7.5 million or $0.04 per share, compared to $2.0 million or $0.01 per share in the prior year quarter.

Revenue for the latest second quarter rose 55% to $157.36 million from $101.27 million a year ago, while adjusted revenue increased 58% to $162.04 million from $102.64 million last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share on revenue of $156.35 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecast adjusted earnings in the range of $0.03 per share to $0.06 per share and adjusted revenue of $174 million to $179 million. Analysts currently expect the company to earn $0.08 per share on revenue of $170.46 million for the third quarter.

For the fiscal year 2014, the company now forecast adjusted earnings between breakeven and $0.05 per share and adjusted revenue of $640 million to $655 million. Previously, the company forecast adjusted EPS between a loss of $0.02 per share and a profit of $0.08 per share and revenue of $615 million to $635 million.

Analysts currently expect the company to earn $0.05 per share on revenue of $633.85 million for the fiscal year 2014.