Pandora reports gains on subscriptions and mobile ads

Pandora Media reported its first quarterly earnings up, as well as growth in subscriptions and mobile advertising since going public in June, New York Times reported.

For the three months that ended July 31, its fiscal second quarter, the company reported $67 million in revenue, increasing 117 percent year-over-year, and beating analysts’ expectations. It was also the sixth consecutive quarter of triple-digit growth in revenue, year-over-year.

Pandora posted a net loss of $1.8 million, or 4 cents a share.

Advertising revenue totaled $58.3 million, and about half came from ads for mobile devices. According to the company, it was the first time mobile ad revenue had reached that level of ratio.

In July, Pandora said more than 100 million users had signed up for the service. And according to Steven M. Cakebread, the chief financial officer, 37 million users tuned in at least once a month. Pandora users listened to a total of 1.8 billion hours of music in the second quarter, a gain of 125 percent year-over-year.

This entry was posted in financial results, mobile advertising, Pandora, Subscriptions. Bookmark the permalink.

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