Pandora Media posted a quarterly loss on Wednesday, but the results for the Internet music company were better than Wall Street had expected.
Pandora lost $5.4 million, or 3 cents a share, on revenue of $101.3 million for its second quarter that ended in July. However, excluding one-time items, Pandora would have broken even on a per-share basis. Analysts had forecast a loss of 4 cents a share and revenue of $100.4 million.
In after hours trading, Oakland-based Pandora's shares jumped 9 percent. The results were released after the markets had closed. In regular trading, Pandora fell Wednesday by 1 percent, or 10 cents a share, and finished at $10.08.
"This quarter exceeded our expectations as our strong momentum continues with both listeners and advertisers," Pandora's CEO Joe Kennedy, said in a prepared release.
For the August-October third quarter, Pandora predicts it will break even, or earn 1 cent a share, excluding one-time items. Revenue should range from $115 million to $118 million.
Analysts are predicting a 1 cent profit on $114.3 million in sales for the third quarter.
Total listener hours for Pandora climbed 80 percent in the quarter, the company said.
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