Pandora topped Q2 revenue targets and its stock just had a wild rebound (P)
Pandora released its Q2 earnings on Monday, topping Wall Street's revenue target and sending shares soaring 7% in after hours trading.
The stock move was a rebound from a sell off earlier in the day that sent Pandora shares down 5% in regular trading, after the company announced it would shut down its services in Australia and New Zealand, and operate exclusively in the United States.
Here's what it reported:
- Earnings per share (non-GAAP) Pandora said it lost $0.21 per share in the second quarter, compared to analyst estimates of losses of $0.24 per share. In the same period last year, Pandora posted losses of $0.12 per share.
- Revenues (GAAP) were$376.8 million, compared to analyst estimates of $368.87 million. In the same period last year, Pandora posted $343 million in revenues.