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Free Research Report as Pandora Media’s Quarterly Revenues Advanced 1.02%

Stock Monitor: Emmis Communications Post Earnings Reporting

LONDON, UK / ACCESSWIRE / June 08, 2018 / If you want access to our free earnings report on Pandora Media, Inc. (NYSE: P) ("Pandora"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=P. The Company reported its financial results on May 03, 2018, for the first quarter of the fiscal year 2018, ended March 31, 2018. The Company surpassed analysts’ estimates for earnings and revenues in Q1 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Emmis Communications Corporation (NASDAQ: EMMS), which also belongs to the Services sector as the Company Pandora Media. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Pandora Media most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For Q1 FY18, Pandora’s total revenues reached $319.23 million, reflecting an increase of 1.02% from $316 million in Q1 FY17. The Company’s revenue numbers exceeded analysts’ consensus estimates of $303.20 million. Pandora discontinued its service in Australia and New Zealand on July 31, 2017, and sold Ticketfly to Eventbrite on September 01, 2017. Excluding Australia, New Zealand, and Ticketfly, Pandora’s sales jumped approximately 12% on a y-o-y basis from the year ago same quarter. For the quarter under review, Pandora’s advertising revenues fell 3.91% to $214.57 million on a y-o-y basis, while its subscription and other revenues increased 61.33% to $104.67 million on a y-o-y basis.

For Q1 FY18, Pandora’s Ad revenue per thousand impressions (RPM) hit an all-time high of $55.52, up 9% on a y-o-y basis; and its total subscribers were 5.63 million, up 19% on a y-o-y basis. The Company had 72.3 million active listeners and 5.63 million Pandora Plus and Pandora Premium subscribers at the end of Q1 FY18.

During Q1 FY18, Pandora’s cost of revenue was $244.43 million, 5.55% higher than $231.57 million in Q1 FY17. The Company’s gross profit declined 11.41% to $74.80 million in the reported quarter from $84.43 million in the previous year’s comparable quarter.

Pandora incurred total operating expenses of $201.73 million in Q1 FY18, 3.58% lower than $209.22 million in Q1 FY17. During the reported quarter, the Company’s product development expenses fell 9.36% to $35.88 million on a y-o-y basis; its sales and marketing (S&M) expenses declined 0.71% to $124.22 million on a y-o-y basis; and its general and administrative (G&A) expenses decreased 6.50% to $41.63 million on a y-o-y basis. Pandora had a loss from operations of $126.93 million in Q1 FY18 compared to an operating loss of $124.78 million in Q1 FY17. The Company had an adjusted loss before interest, tax, and depreciation of $73.31 million in the quarter under review compared to $71.30 million in the previous year’s corresponding quarter.

Pandora’s net loss attributable to common stockholders was $139.07 million, or $0.55 loss per share, in Q1 FY18 from $132.27 million, or $0.56 per share, in Q1 FY17. The reported earnings included stock-based compensation expenses, costs associated with restructurings, and a loss on sale of subsidiaries. Pandora had an adjusted loss per share of $0.27 in the reported quarter compared to $0.24 in the prior year’s same quarter. Market analysts’ estimated the Company to report a loss of $0.37 per share for Q1 FY18.

Cash Matters

Pandora had cash and cash equivalents of $454.92 million as on March 31, 2018, 8.94% lower than $499.60 million as on December 31, 2017. The Company had a long-term debt of $278.41 million as on March 31, 2018, up 1.98% from $273.01 million as on December 31, 2017.

For the three months ended March 31, 2018, Pandora’s cash inflow from operating activities was $17.40 million versus a cash outflow of $35.93 million in the comparable period of last year. The Company spent $3.41 million on purchases of property and equipment in the reported quarter, 72.22% higher than $1.98 million in Q1 FY17.

Outlook

For the second quarter of the fiscal year 2018, Pandora expects total revenues to be between $360 million and $375 million; the midpoint of which reflects a growth of 7% from the year ago corresponding period, and similar seasonality as prior years. The Company expects adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) to be in the range of a loss of $45 million to a loss of $30 million for Q2 FY18, which at the midpoint implies a $5 million improvement from the year ago same quarter.

Stock Performance Snapshot

June 07, 2018 - At Thursday’s closing bell, Pandora Media’s stock declined 2.43%, ending the trading session at $7.62.

Volume traded for the day: 9.66 million shares, which was above the 3-month average volume of 9.25 million shares.

Stock performance in the last month – up 6.28%; previous three-month period – up 53.52%; past six-month period – up 60.42%; and year-to-date – up 58.09%

After yesterday’s close, Pandora Media’s market cap was at $1.93 billion.

The stock is part of the Services sector, categorized under the Broadcasting - Radio industry.

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