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Pandora Earnings Fall Flat

Pandora Media, Inc. (NYSE: P) reported its third quarter financial results after the markets closed on Thursday. The company had a net loss of $0.40 per share on $311.6 million in revenue compared to Thomson Reuters consensus estimates that called for $0.10 in earnings per share (EPS) on $312.97 million in revenue. The same period from the previous year had $0.09 in EPS on $239.59 million in revenue.

The revenue breakdown was: $254.7 million in advertising revenue, up 31% year over year; total mobile revenue was $255.2 million, up 36%; and local advertising revenue was $63.5 million, up 52%. Subscription and other revenue totaled $56.9 million.

Total listener hours grew 3% to 5.14 billion for the third quarter of 2015, compared...