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Pandora (P) Tops Q2 EPS by 3c, Offers Guidance

July 23, 2015 4:05 PM EDT

Pandora (NYSE: P) reported Q2 EPS of $0.05, $0.03 better than the analyst estimate of $0.02. Revenue for the quarter came in at $285.6 million versus the consensus estimate of $283.06 million. For the second quarter of 2015, adjusted EBITDA was $16.3 million, a 29% year-over-year improvement.

Listener Hours: Total listener hours grew 5% to 5.30 billion for the second quarter of 2015, compared to 5.04 billion for the same period last year.

Active Listeners: Active listeners were 79.4 million at the end of the second quarter of 2015, compared to 76.4 million from the same period last year.

“Our advertising investments, particularly in local, are paying off. This quarter, local ad revenue reached an all-time high, driving record RPMs,” stated Brian McAndrews Chairman and CEO of Pandora. "Our monetization success allows us to be an even more effective platform for helping artists grow their careers. In addition to our ability to provide insights to the entire music industry, we fuel promotion that is extremely valuable to music makers.”

Pandora sees Q3 2015 revenue of $310-315 million, versus the consensus of $309.20 million. Adjusted EBITDA is expected to be in the range of $25 million to $30 million.

Revenue is expected to be in the range of $1.175-$1.185 billion vs the consensus $1.17 billion. Adjusted EBITDA is expected to be in the range of $75 million to $85 million.

For earnings history and earnings-related data on Pandora (P) click here.



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