Friday, November 3, 2017

Pandora Stock Down 25% After Weak Earnings Report, Listener Dip | hypebot

Pandora-new-logo-image-001Pandora stock was down as much as 26% on Friday morning, after its new CEO reported weaker than expected earnings growth alongside total a 7% decline in total listeners hours in the same period last year and a somewhat smaller $5.3 million third quarter loss.

Paid subscriptions did grow 29% year-over-year to 5.19 million, including 1 million subscribers to Pandora's Premium on-demand streaming service, which launched in May of this year. 

Some highlights from yesterday earning call:

Key User Base Metrics: 
  • Total monthly active users = 73.7M 
  • Pandora Premium paid subscribers cross the 1 million milestone in October 2017
  • Total paid subscribers (across Pandora Plus & Premium) = 5.19 million / 29% YoY increase 
  • Listeners tuning in an average of 23 hours per month
  • Daily active users on Consumer Electronic (CE) and Automotive Platforms were up 36% year-over-year
Key Financial Metrics:
  • Revenue excluding ticketing was $360.2 million, growing 9% year-over-year
  • Adjusted EBITDA loss was $5.3 million – compared to a loss of $6.6 million in the same quarter last year
  • Q2 subscription revenue was $84.4 million / 50% YoY increase

Read the full report here.

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