Chief executive Joe Kennedy said about half of Pandora’s $66 million in third-quarter ad sales were for mobile devices.
(David Paul Morris/Bloomberg News/File 2011)
MARKET MOVERS CHARTS ARE SCALED SO PERCENTAGE CHANGE IS COMPARABLE
Pandora profits but forecast disappoints
Chief executive Joe Kennedy said about half of Pandora’s $66 million in third-quarter ad sales were for mobile devices.
(David Paul Morris/Bloomberg News/File 2011)
November 24, 2011
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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.
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