Pandora Media Slips To Loss In Q3; Boosts FY14 Outlook - Quick Facts

(RTTNews) - Internet radio company Pandora Media Inc. (P) reported a net loss for the third quarter of $1.7 million, or $0.01 per share, compared to net income of $2.1 million or $0.01 per share in the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $12.3 million or $0.06 per share, compared to $9.9 million or $0.05 per share in the prior year quarter.

Revenue for the latest third quarter rose 50% to $180.38 million from $120.01 million a year ago, while adjusted revenue increased 50% to $181.58 million from $120.83 million last year.

Analysts polled by Thomson Reuters expected the company to earn $0.06 per share on revenue of $175.60 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecast adjusted earnings in the range of $0.02 per share to $0.04 per share and adjusted revenue of $185 million to $190 million. Analysts currently expect the company to earn $0.04 per share on revenue of $187.26 million for the fourth quarter.

For the fiscal year 2014, the company now forecast adjusted earnings between $0.03 and $0.05 per share and adjusted revenue of $657 million to $662 million. Previously, the company forecast adjusted earnings between breakeven and $0.05 per share and revenue of $640 million to $655 million.

Analysts currently expect the company to earn $0.03 per share on revenue of $645.50 million for the fiscal year 2014.