Pandora Racks Up $120 Million In Revenue
That was for the quarter that ended on October 31. The $120 million is $20 million more than the previous quarter and $45 million more than the company took in during the same quarter in 2011. Of that $120 million, $74 million came from mobile.
Pandora is focusing more on mobile as it's becomes clear that music listening is heading away from the PC and more toward mobile devices. Seventy-seven percent of Pandora listeners use a mobile device. Of the $74 million in revenue from mobile, $66 million came from ad revenue, the balance from subscriptions.
Pandora revenue for the first nine months of its fiscal year is $302 million, $109 million more than a year earlier. The company is projecting revenue of about $120 million in Q4 which, if achieved, would result in a $422 million year. Despite those big revenue numbers, Pandora is expecting to lose money for the year. Non-GAAP loss per share is expected to be between ($0.09) and ($0.12). Content acquisition costs in the quarter that just ended were $65.7 million or 55 percent of the company's revenue.
(12/5/2012 10:29:25 AM) |
get the headline right - PANDORA ROCK UP $66 MILLION IN REVENUE. details boys details!
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