Pandora reported smaller than anticipated losses in Q1 2018, sending the stock up 2.4% in after hours trading. Total Pandora Plus and Premium subscribers grew 19 Year over year to 5.63 million, but listener hours fell almost 5% compared to the same period last year.
- Q1 Revenue was $319.2 million, growing 12% year-over-year excluding ANZ & Ticketfly
- Q1 Subscription revenue was $104.7 million, growing 63% year-over-year excluding ANZ & Ticketfly
- Ad RPM hit an all-time Q1 high of $55.52, growing 9% year-over-year
- Total subscribers were 5.63 million, growing 19% year-over-year
- Q1 Revenue and Adjusted EBITDA significantly exceeded our forecast
- Announced acquisition of AdsWizz, creating the largest digital audio advertising ecosystem globally