Pandora Reports Growing Revenue, Listening & Losses
Pandora has released financial results that show strong growth failing to stem growing losses. For the second quarter of fiscal 2013, total revenue was $101.3 million, a 51% year‐over‐year increase. Ad revenue grew to $89.4 million, a 53% year‐over‐year increase. Subscription and other revenue rose to $11.9 million, a 36% year‐over‐year increase. But Pandora is still far from profitable.
The company logged a fiscal second-quarter loss of $5.4 million. During the same period a year ago, Pandora lost just $1.8 million with $67 million in revenue.
Some of the loss stems from expanded listening resulting in higher royalties paid. Total listener hours grew 80% to 3.30 billion for the quarter, compared to 1.83 billion for the second quarter of fiscal 2012.