Internet radio company Pandora Media Inc. (P) reported net loss for the first quarter of $28.9 million, or $0.14 per share, narrower than $38.7 million or $0.22 per share in the year-ago quarter.
Excluding items, adjusted net loss for the first quarter narrowed to $25.5 million or $0.13 per share from $30.2 million or $0.18 per share in the prior year quarter.
Revenue for the latest first quarter rose 69% to $194.32 million from $115.12 million a year ago, while adjusted revenue increased 54% to $180.13 million from $117.04 million last year.
Analysts polled by Thomson Reuters expected the company to earn $0.14 per share on revenue of $174.96 million for the first quarter. Analysts' estimates typically exclude special items.
Looking forward to the second quarter, the company forecast adjusted earnings to be between $0.00 to $0.03 per share and revenue of $213 million to $218 million. Analysts currently expect the company to earn $0.05 per share on revenue of $219.33 million for the second quarter.
For the full year 2014, the company now expects adjusted earnings between $0.14 and $0.18 per share and adjusted revenue of $880 million to $900 million. Earlier, the company expected adjusted earnings of $0.13 to $0.17 per share and adjusted revenue of $870 million to $890 million.
Analysts currently expect the company to earn $0.16 per share on revenue of $892.31 million for the fiscal year 2014.
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