Wall Street analysts who follow Pandora (
But that wasn't to be.
The Oakland, Calif. music streaming service on Tuesday said it expects a loss of $39 million to $51 million for the current quarter even before some costs, as opposed to projections of a profit of $15.6 million.
Pandora shares after hours continued the downward trend of much of the past three weeks, falling 7.2% to $11.30. The stock fell 4.8% in Tuesday trading after closing Monday at $12.80. Shares closed at $14.77 as recently as Oct. 5.
The less-than-comforting numbers for Pandora came as CEO Tim Westergren offered investors and the more than 80 million listeners of its free, ad-supported service some teasers about Pandora Premium, an on-demand platform that will launch on Dec. 6, allowing it to compete more directly with privately-held Spotify and Apple (
"We're going to reinvent the on-demand listening experience, the same way we invented the curated radio experience," Westergren said at...