MI2N
Music Industry News Network
TUESDAY, SEPTEMBER 1ST
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


IES 15 - The Indie Entertainment Summit A Resounding Success

Dirty Lowdown & Dominican Don To Release New Single Tributing Michael Jackson

Melissa B. Signs Worldwide Exclusive Publishing Agreement With USA Media Rights


UNITY Electronic Music Festival Is Coming!


EASTWEST Offers Free Trial And Streamlined Pricing For Composer Cloud Subscribers

Zaena Morisho Releases New Video "MI NA WE" - FUSING AFRO ROOTS

International R&B/Soul Artist Devon Howard Goes Back To Classic R&B With New CD 'Return To Love'

IES Rock Honors Set To Induct Icons Lemmy & Motorhead, Slash, The Ramones & The Runaways



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» OpenLIVE Launches Australia's First Hi-Resolution Music Download Store
» Japanese Auto Maker And Musical Instrument Manufacturer Partner To Co-Develop Electric Sports Car Driving Sound
» Arizona Progressive Art Rock Band With Our Arms To The Sun Sign With Fade To Silence Records
» D.O.A. Releases Controversial “Pipeline Fever” Video
» BLACKFOOT GYPSIES RELEASE “HANDLE IT” TO GLOBAL RADIO EXCLUSIVELY VIA AIRPLAY DIRECT
» The Talkhouse Hires Brenna Ehrlich As Managing Editor
» SUISA Builds Online Portal With The Appway Platform For Swiss Songwriters, Composers And Music Publishers
» MusicDish Sponsors SPOTLIGHT Rhythm & Trends Festival
» New Album Release From Angela Predhomme: 'Will'
» Voodoo Sex Cult Announce Their Sponsorship With Coldcock Whiskey


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

Articles
MUSICDISH E-JOURNAL
» China's Indie Music Market And Livehouse Status Quo
» MusicDish Sponsors SPOTLIGHT Rhythm & Trends Festival
» Beijing's FakeMusicMedia And Pilot Music Announce New Label
» UNITY Electronic Music Festival Is Coming!
» Second Hand Rose Rocked At Paléo Festival Nyon
» New Island Entertainment Presents A F8ckin Birthday Extravaganza At Santos Party House
» MusicDish*China Booking (Snow Mountain), DDC, NAMM Musikmesse Russia And NMS
» 365 Days From Dusk Till Dawn: DDC 1 Year Anniversary Program
» The Challenges Of Learning How To Play Drums
» Blue Note Entertainment Group Further Expands East With New Venue In Beijing
» From North Korea To NYC - Shanghai DJ B.O Spins Libation & Leftfield
» Bay Area Chinese Music Association Presents Second Hand Rose West Coast Show

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 © 1997-2015 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.