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:
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:
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:
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.
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.
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.
When you're looking for a gift idea think about the Rubik's Cube. The online Rubik's Cube solver will guide you through the solution.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.