Pandora Posts Record Revenue For Second Quarter

By TechCrunch:

By Leena Rao

In its first quarter as a public company, music streaming service Pandora (P) posted record revenue in Q2 2012. For the second quarter fiscal year 2012, total revenue was $67 million, a 117% year over year increase. For the second quarter fiscal 2012, on a GAAP basis, the net loss per per share was $(0.04). The non-GAAP net income per fully diluted common share was $0.02. In terms of net income, Pandora took a loss of $1.8 million for the quarter. But Pandora’s Q2 advertising revenue was $58.3 million, a 118% year over year increase. Subscription and other revenue was $8.7 million, a 112% year over year increase. The company revealed that total listener hours were approximately 1.8 billion for quarter, an increase of 125% compared to approximately 800 million for the same quarter a year ago. Estimated share of total U.S. radio listening at the endComplete Story »