Pandora Reports $200.8 Million in Q4 Revenue
In 2013, Pandora was able to invest back into its business, improve its product, “innovate across multiple technologies, devices and automotive platforms in our continuing efforts to reinvent radio,” says President/Chairman/CEO Brian McAndrews.
In revealing the Internet audio company’s latest financial results, he points to Pandora’s position “as a leader in mobile media.”
Pandora’s reported total yearly revenue increased 52% to $200 million however it still ended 2013 with a loss, according to the company.
In the fourth quarter, Pandora had non-GAAP revenue of $200.8 million, and non-GAAP earnings per share (diluted) of $0.11. Investors had expected $0.08 in earnings per share and revenue of $201 million, according to financial reports.
Total listener hours grew 16% to 4.54 billion for Q4 2013, compared to 3.91 billion for the same period a year previously.