Pandora Media Calendar Q4 Profit Rises; Boosts FY14 Outlook - Quick Facts

(RTTNews) - Internet radio company Pandora Media Inc. (P) reported a net income for the calendar fourth quarter of $9.0 million, or $0.04 per share, compared to $1.6 million or $0.01 per share in the year-ago quarter.

Excluding items, adjusted net income for the calendar fourth quarter was $23.0 million or $0.11 per share, compared to $9.7 million or $0.05 per share in the prior year quarter.

Revenue for the latest calendar fourth quarter rose 52% to $200.36 million from $131.50 million a year ago, while adjusted revenue increased 51% to $200.79 million from $132.88 million last year.

Analysts polled by Thomson Reuters expected the company to earn $0.08 per share on revenue of $201.00 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecast adjusted income to between a loss of $0.16 per share to $0.14 per share and adjusted revenue of $170 million to $176 million. Analysts currently expect the company to earn $0.12 per share on revenue of $171.70 million for the first quarter.

For the fiscal year 2014, the company now forecast adjusted earnings between $0.13 and $0.17 per share and adjusted revenue of $870 million to $890 million. Previously, the company forecast adjusted earnings between $0.03 and $0.05 per share and revenue of $657 million to $662 million.

Analysts currently expect the company to earn $0.19 per share on revenue of $896.30 million for the fiscal year 2014.