Pandora just wrapped up its quarterly earnings report and investors aren’t very impressed. The company’s music streaming service managed to rake in around $268 million, which is a bit less than the $277 million that analysts were expecting which prompted Pandora’s stock price to fall by as much as 26%.
Pandora’s fourth quarter numbers got a poor reception Thursday as the company’s stock price fell as much as 26% in after hours trading. The company missed its estimates and gave a weaker-than-expected forecast outlook for the current quarter. The music streaming service reported revenues of $268.0 million versus analysts’ estimate of $277 million. Earnings came in as expected, at $0.18 a share. For the first quarter, Pandora is expecting revenues of $220 million to $225 million, compared to the $244 million that analysts had predicted.
TECHi weighs both sides before reaching a conclusion.
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