Pandora's triumphant earnings
Advertisers and listeners are showing increasing interest in the online radio company.
Pandora Media (P) has proven its fine-tuned worth with an excellent start to its 2013 fiscal year. With revenue growth of 58% in the past year, the online radio company has positioned itself for continued development and success in the coming months.
Pandora said it now has 51.9 million users, a 53% increase from a year earlier. With such large strides being taken in such a short amount of time, it is no wonder that CEO Joe Kennedy is over the moon.
"Consumers continue to embrace Pandora's unparalleled personalized radio experience at an extraordinary rate, propelling Pandora's market leadership to an all-time record share of 5.95% of total U.S. radio listening," Kennedy said in a statement Thursday.
Even repetitive, frequent commercial interruptions aren't driving listeners away from Pandora's popular randomized stations. In turn, this has prompted advertisers to take notice and pay top dollar to be featured on the digital airwaves.
According to Kennedy, promoters want to be where consumers are. As such, they are trying to get their messages across quickly and efficiently using Pandora as a medium. With a 71.7% share of the top 20 U.S. Internet radio services, who wouldn't want to advertise on Pandora?
Management increased guidance for the full year, forecasting revenue expected in the range of $420 million to $427 million. For the upcoming quarter alone, sales are projected to reach between $99 million to $101 million.
Pandora closed Thursday up more than 12% to $11.60. The stock is up more than 15% this year.
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Don't judge it by its trading results over just few days. Entire economy seems to be down last few weeks over Iran oil embargo and Greece economic crisis. Truly I wish global economy doesn't depend on Greece. It's just side effects of economic condition such as Greece and embargo on Iraq Oil dragging down entire economy gravely concerns me. FB chose bad time for its IPO.
Stock value doesn't always reflect a company's real value. Day trader's vision shouldn't distort and fool all of us. I'm neither employee nor have bought one stock of FB. We should look at the real value of this company for it's true worth before short visions destroy this company.
No I didn't get paid to write this. Facebook is such a wonderful company. And I didn't even mentioned it's still free and it's original function of social website where you can make lots of friends.
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The company plans to close stores and lay off employees, and says it needs to make some deeper changes.
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