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Last $18.33 USD
Change Today -0.15 / -0.81%
Volume 3.5M
P On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

pandora media inc (P) Key Developments

Pandora Media Inc. Loses Court Hearing Relating to a Dispute over Royalty Rates with Broadcast Music

Pandora Media Inc. lost a court hearing relating to a dispute over royalty rates with Broadcast Music Inc, which could force the company to pay 2.5% of its revenue to the music publishing rights group. Prior to the federal court ruling, Pandora's rate was set at 1.75% of its revenue. The company said it plans to appeal the decision. Pandora believes it will win the appeal, considering that last week an appeals court ruling upheld Pandora's victory in a related case against ASCAP.

Pandora Media, Inc. Presents at Jefferies 2015 Global Technology, Media and Telecom Conference, May-12-2015 10:30 AM

Pandora Media, Inc. Presents at Jefferies 2015 Global Technology, Media and Telecom Conference, May-12-2015 10:30 AM. Venue: Mandarin Oriental Brickell, Miami, Florida, United States. Speakers: Dominic Paschel, Vice President of Corporate Finance and Investor Relations.

Pandora Media, Inc. Presents at SunTrust Robinson Internet & Digital Media Conference 2015, May-12-2015 04:30 PM

Pandora Media, Inc. Presents at SunTrust Robinson Internet & Digital Media Conference 2015, May-12-2015 04:30 PM. Venue: The Palace, 2 New Montgomery Street, San Francisco, CA 94105, United States. Speakers: Brian P. McAndrews, Chairman, Chief Executive Officer and President.

Pandora Media, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter of 2015 and Full Year 2015

Pandora Media, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of $230,764,000 compared to $194,315,000 a year ago. Loss from operations was $48,395,000 compared to $28,995,000 a year ago. Loss before provision for income taxes was $48,198,000 compared to $28,903,000 a year ago. Net loss was $48,257,000 or $0.14 basic and diluted per share compared to $28,931,000 or $0.23 basic and diluted per share a year ago. Net cash provided by operating activities was $26,982,000 compared to net cash used in operating activities of $2,122,000 a year ago. Purchases of property and equipment were $5,931,000 compared to $11,887,000 a year ago. Non-GAAP net loss was $24,879,000 or $0.12 basic and diluted per share compared to $25,543,000 or $0.13 basic and diluted per share a year ago. Adjusted LBITDA was $20,860,000 compared to $22,443,000 a year ago. For the second quarter of 2015, the company reported revenue is expected to be in the range of $280 million to $285 million. Adjusted EBITDA is expected to be in the range of $8 million to $13 million. Adjusted EBITDA excludes forecasted stock-based compensation expense of approximately $31 million and forecasted depreciation and amortization expense of approximately $5 million and assumes minimal provision for income taxes given net loss position. Diluted shares outstanding for the second quarter 2015 are expected to be approximately 219 million. For the full year 2015, the company reported revenue is expected to be in the range of $1.16 billion to $1.18 billion. Adjusted EBITDA is expected to be in the range of $75 million to $85 million. Adjusted EBITDA excludes forecasted stock-based compensation expense of approximately $122 million and forecasted depreciation and amortization expense of approximately $23 million and assumes minimal provision for income taxes given net loss position. Diluted shares outstanding for the full year 2015 are expected to be approximately 221 million. For the full year 2015, the company is currently, forecasting a non-GAAP tax rate of approximately 30% to 35% to be used when calculating non-GAAP net income and non-GAAP EPS.

Pandora Announces Board Appointments

Pandora announced that Tim Leiweke has been elected and Roger Faxon has been nominated for election to the company's board of directors. Leiweke currently serves as CEO of Maple Leaf Sports & Entertainment. Faxon currently owns and leads A&R Investments. Faxon also serves on the boards of ITV PLC, The Songwriters Hall of Fame, The John Hopkins University, and is on the Council of The Brookings Institution. Leiweke's election is effective immediately, while Faxon is being nominated for election at the upcoming annual meeting of stockholders on June 4, 2015.

 

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P

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Valuation P Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 4.1x
Price/Book 6.9x
Price/Cash Flow NM Not Meaningful
TEV/Sales 3.7x
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