Pandora's revenue misses estimate as advertisers spend less

Reuters News
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Posted: Feb 05, 2015 4:42 PM

(Reuters) - Online music streaming service Pandora Media Inc <P.N>, reported lower-than-expected quarterly revenue as growth in mobile advertising slowed down, sending shares down 21 percent in extended trading.

Net income rose to $12.3 million, or 6 cents per share, in the fourth quarter ended Dec. 31, from $8.9 million, or 4 cents per share, a year earlier.

Revenue rose to $268 million from $200.4 million.

(Reporting by Kshitiz Goliya in Bengaluru; Editing by Joyjeet Das)