Pandora (P) Blows Up Expectations as Listener Hours Rip; Guides FY13 Ahead of Views
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Pandora Radio (NYSE: P) shares are trading notably higher in the after-hours session Wednesday following a first-quarter 2013 earnings smack down.
The company threw a "Ferocious Flying Elbow" at analysts' revenue expectations, with its top-line growing 58.3 percent to $80.78 million. Views called for revenue of $74.35 million.
To make matters more complicated for analysts, Pandora delivered a "Crouching Tiger, Hidden Loss" of 9 cents per share, much narrower than a loss of 17 cents per share expected.
Users had "Ears of the Grasshopper," logging in 3.09 billion total listener hours, a 92 percent increase from the same period last year.
Finally, Pandora reported "Mystical Flying Cash," short-term investments, and cash equivalents of $80.6 million, versus $90.6 million in the first-quarter of 2012.
Summoning the "Magic Eye of Rumi," Pandora said it sees second-quarter loss of 3 cents to 5 cents on revs of $99 million to $101 million. This compares with views calling for a loss of 3 cents per share and revs of $99.9 million.
For fiscal 2013, Pandora expects a loss of 7 cents to 11 cents and revs of $420 million to $427 million. The Street unwisely modeled a loss of 17 cents per share on revs of $415.9 million.
Shares are up well over 10 percent in late trading.
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The company threw a "Ferocious Flying Elbow" at analysts' revenue expectations, with its top-line growing 58.3 percent to $80.78 million. Views called for revenue of $74.35 million.
To make matters more complicated for analysts, Pandora delivered a "Crouching Tiger, Hidden Loss" of 9 cents per share, much narrower than a loss of 17 cents per share expected.
Users had "Ears of the Grasshopper," logging in 3.09 billion total listener hours, a 92 percent increase from the same period last year.
Finally, Pandora reported "Mystical Flying Cash," short-term investments, and cash equivalents of $80.6 million, versus $90.6 million in the first-quarter of 2012.
Summoning the "Magic Eye of Rumi," Pandora said it sees second-quarter loss of 3 cents to 5 cents on revs of $99 million to $101 million. This compares with views calling for a loss of 3 cents per share and revs of $99.9 million.
For fiscal 2013, Pandora expects a loss of 7 cents to 11 cents and revs of $420 million to $427 million. The Street unwisely modeled a loss of 17 cents per share on revs of $415.9 million.
Shares are up well over 10 percent in late trading.
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