Bandsintown_For Artist_Banner_6-11-19-01-01

BandPage Adds Deeper Partner Integrations & New Usage Stats
Beatport Mixes Opens To All DJs For Legal Mix Sales

Pandora Stock Falls Wednesday On Wider Loss Forecast

image from stock, battered by profitability concerns and rumored competition from iTunes, fell another 17% to $7.84 in late morning trading Wednesday, after the company forecast widening losses ahead.  Revenue for Pandora's quarter ending October 31 was actually up 60% over the previous year's Q3 to $120 million.  Advertising grew 61% to $106.3 million, with subscriptions and other revenue up 52% to $13.7 million.  But Pandora's future projections gave investors the jitters.

In yesterday's report, Pandora projected a loss next quarter of 6-9 cents per share on revenue of $120-$123 million. The company blamed sluggish ad sales caused by a stalled economy.

Analysts had previously predicted that Pandora would turn a profit early next year of 2 cents per share on $130.3 million quarterly revenue.