MI2N
Music Industry News Network
FRIDAY, AUGUST 29TH
Advanced Search
MusicDish Advertising Network
Subscribe to Mi2N's Free Newsletters B2N (business) i2N (indie)
HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Radio News (more headlines) 12-05-2012

Pandora Reports 3Q13 Financial Results

Bookmark and Share
Pandora, the leading Internet radio service, today announced financial results for the third quarter of fiscal 2013.

"This quarter exceeded our expectations as we monetized mobile at record levels and grew total mobile revenue 112%," stated Joe Kennedy, Chairman & CEO of Pandora. "During the quarter we launched Pandora 4.0, the biggest redesign on the iOS and Android platforms ever, bringing new, innovative and enhanced functionality to mobile devices for the first time for both users and advertisers."

Fiscal 3Q13 Financial Results

Total Revenue: For the third quarter of fiscal 2013, total revenue was $120.0 million, a 60% year-over-year increase. Advertising revenue was $106.3 million, a 61% year-over-year increase. Subscription and other revenue was $13.7 million, a 52% year-over-year increase.

Earnings per Share: For the third quarter of fiscal 2013, GAAP basic and diluted earnings per share were $0.01. Non-GAAP basic and diluted earnings per share were $0.05, excluding approximately $7.1 million in stock-based compensation. Basic earnings per share was based on 169.4 million weighted average shares outstanding and diluted earnings per share was based on 190.3 million weighted average shares outstanding.

Cash: For the third quarter of fiscal 2013, the company ended with $80.5 million in cash, cash equivalents and short-term investments, compared with $82.3 million at the end of the prior quarter. For the third quarter of fiscal 2013, Pandora's cash used in operating activities was approximately $878 thousand compared to cash provided by operating activities of $111 thousand in the year-ago quarter.

Other Business Metrics

Total listener hours: Total listener hours grew 67% to 3.56 billion for the third quarter of fiscal 2013, compared to 2.12 billion for the third quarter of fiscal 2012.

Guidance

Based on information available as of December 4, 2012, the company is providing financial guidance for the fourth quarter and fiscal year 2013 as follows:

4Q13 Guidance: Revenue is expected to be in the range of $120 million to $123 million. Non-GAAP loss per share is expected to be between ($0.06) and ($0.09). Non-GAAP loss per share excludes stock-based compensation expense, assumes minimal tax expense given our net operating loss position, and 171 million weighted average basic shares outstanding for the fourth quarter fiscal 2013.

Fiscal 2013 Guidance: Revenue is expected to be in the range of $422 million to $425 million. Non-GAAP loss per share is expected to be between ($0.09) and ($0.12). Non-GAAP loss per share excludes stock-based compensation expense, assumes minimal tax expense given our net operating loss position, and 168 million weighted average basic shares outstanding for fiscal 2013.


Bookmark and Share

back | top



MusicDish Advertising Network

Mi2N Music PR

Momentous Game Of Thrones Music And Video Released To Introduce Musicnotes And Jarrod Radnich Partnership

GINGIO Is Set To Assist The Music Industry With Exceptional Services

Plunky & Oneness Release "Never Too Late (Go-Go Remixes)" Maxi-Single

Provocative Beijing Rockers Second Hand Rose To Play NYC, DC, Philly, Boston

NC Handcrafted Ukulele To Be Raffled For LEAF

IES - Indie Entertainment Summit Wraps Up Third Consecutive Successful Edition In L.A. To A Global Audience As The Greatest Event For Indie Artists, Producers & Labels

ROCK AND ROLL REVIVAL!

IAMA Winner Meghan Trainor Hits #1 On Billboard Charts



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» Streaming Music Subscriptions To Exceed $3bn In USA And Western Europe This Year
» New 50/25 Watt Additions Grow PRS Guitars’ Popular Archon Amplifier Line Up
» Curb Records And Sweetwater Rain Announce The Addition Of Kaitlin Walker To The Band
» Disturbing New Music Video Shines A Light On The Dark Side Of Love
» Vertex Standard Strengthens EVerge™ Digital Radios
» Vince Szydlowski Named Senior Vice President, Label Sales For Capitol Music Group
» Music2Deal – The Community For The Music Industry Now Also Available On Mobile Devices
» The Modern Sky Festival Expands To U.S. Confirming Two Days In New York's Central Park With Cat Power, Atomic Bomb!
» New Zealand Rock Band SALT To Release New Album
» AFM President Blasts NFL Super Bowl Halftime Kickback Scheme


Get your music news covered...
Have your press release written
by the pros at Mi2N

Articles
MUSICDISH E-JOURNAL
» BROBST Electro-Rock Leads MusicDish*China Top 5 Indie Song Chart
» Love And Peace 2014 Outdoor Camping Music Festival
» MusicDish*China Top 5 Indie Song Chart (Vol. 1, No. 4)
» The Courtesans Drives MusicDish*China Top 5 Indie Song Chart
» FM Pilots Skyrockets To Top Of MusicDish*China Indie Song Chart
» MusicDish*China Top 5 Indie Song Chart 07/19-07/25/2014
» Zebra Music Festival (Shanghai) Ticket Giveaway Winners
» MusicDish*China Top 5 Indie Song Chart 07/12-07/18/2014
» Temple Bar 3 Year Anniversary
» Zebra Music Festival (Shanghai) Announces Headlining Acts (Chinese Version)
» Raising Our Voices For Fennie: Benefit Concert Zajia Lab, July 13
» Raising Our Voices For Fennie: Benefit Concert Zajia Lab, July 13 (Chinese Version)

Mi2N's Music PR distribution service guarantees online exposure for your press release. Choose from seven (7) different packages.


HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Copyright © 1997-2014 MusicDish LLC, all rights reserved. Text, graphics, and HTML code are protected by US and International Copyright Laws, and may not be copied, reprinted, published, translated, hosted, or otherwise distributed by any means without explicit permission.