Pandora's Stock Is Still Suffering Post-Earnings
It's currently trading down 8%.
Last Thursday, Pandora reported better than expected earnings, but the stock closed down 16% that day anyway.
Last quarter, Pandora saw revenues of $194.3 million, well ahead of the $177.7 million analysts expected. Pandora also reported a loss of $0.13 per share, which is a penny better than analysts expected.
The stock is likely tanking due to Pandora's disappointing guidance for Q2. Its guidance ranged from break-even to a profit of $0.03 per share on revenue $213 million to $218 million. But analysts were expecting a profit of $0.05 per share on revenue of $219 million.
Despite how investors reacted, Pandora is still growing. In Q1, listening hours grew 12% year-over-year to 4.8 billion. Pandora's number of active listeners also grew 8% to 75.3 million people.