Pandora profits but forecast disappoints
Pandora Media Inc., the Internet radio service, posted a surprise third-quarter profit after sales of $75 million beat estimates. Net income was $638,000, compared with a year-earlier loss, the Oakland, Calif., company said. Excluding some items, profit of 2 cents beat the average 1-cent estimated loss. But investors soured on a full-year revenue forecast, viewing it as conservative, with a loss more than analysts expected.