Pandora Q3 revenues up 13%, yet still fall short of predicted earnings

Pandora Q3 revenues up 13%, yet still fall short of predicted earnings

The US firm reported revenue growth of $351.9m, up 13% year-on-year. However, this figure fell short of analysts’ expectations of $366.1m.

Adjusted earnings per share also failed to meet expectations, with a loss of 7 cents, instead of the 6 cents predicted by Wall Street. The stock fell by around 8% in the initial after hours trading.

Advertising revenue hit $273.7m, marking a 7% increase year-on-year, but this too fell short of the $286.9m it was estimated to make.

Ticketing service revenue hit $22.1m; showing growth of 25%, yet also falling just short Wall Street predictions.

Meanwhile, listener fell to 77.9 million, compared to 78.1 million in the same period last year. On a more positive note, total listener hours grew by 5% year-on-year to 5.4 billion.

Earlier this year it was reported that Pandora had rejected an acquisition offer from SiriusXM radio parent company Liberty Media

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