Pursuits
Pandora Revenue Falls Short of Estimates as Listeners Tune Out
- Quarterly sales of $343 million miss $351.7 million projection
- Internet radio service said to have spurned bid from Liberty
Pandora CEO: Can't Speculate on Liberty Media Rumor
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Pandora Media Inc., the internet radio service that’s become the subject of heated merger speculation, posted second-quarter revenue that missed analysts’ estimates as active listeners fell.
The company posted a loss of 12 cents a share, excluding some items, according to a statement Thursday. That was smaller than the 15-cent average loss projected by analysts in a Bloomberg survey and larger than a year earlier. Second-quarter revenue rose 20 percent to $343 million, short of analysts’ projections of $351.7 million.