Pandora Q1 Net Loss Widens

(RTTNews) - Pandora Media, Inc. (P) reported a net loss for the first quarter of $48.3 million or $0.23 per share, compared to a net loss of $28.9 million or $0.14 per share for the year-ago quarter.

Excluding items, adjusted net loss for the first quarter was $24.9 million or $0.12 per share, compared to an adjusted net loss of $25.5 million or $0.13 per share in the prior year quarter.

Total revenue for the first quarter rose 19% to $230.76 million from $180.13 million a year ago.

Analysts polled by Thomson Reuters expected the companyt to report a loss of $0.16 per share on revenue of $224.56 million for the first quarter. Analysts' estimates typically exclude special items.

Active listeners were 79.2 million at the end of the first quarter of 2015, compared to 75.3 million from the same period last year.

Looking forward, the company forecast second Quarter revenue of $280 million to $285 million.

The company raised its full year 2015 revenue guidance to a range of $1.16 billion to $1.18 billion from its prior guidance of $1.15 billion to $1.17 billion.

Analysts currently expect the company to post revenue of $281.63 million for the second quarter and $1.16 billion for the full year 2015.