Pandora revenue misses expectations, shares plunge

Reuters News
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Posted: Oct 22, 2015 4:53 PM

(Reuters) - Pandora Media Inc, a provider of music streaming services, reported lower-than-expected quarterly revenue and a bigger loss, sending its shares down 18 percent in after-hours trading.

The company's net loss widened to $85.9 million, or 40 cents per share, in the third quarter ended Sept. 30, from $2 million, or 1 cent per share, a year earlier.

Revenue rose to $311.6 million from $239.6 million, but this was far short of the average analyst estimate of $313 million, according to Thomson Reuters I/B/E/S.

(Reporting by Kshitiz Goliya in Bengaluru; Editing by Savio D'Souza)