Chief Financial Officer Mike Herring said, however, that the impact from the Sept. 18 launch of Apple Inc.'s rival iTunes Radio was "modest." Pandora noticed a quick dip in users, followed by stabilization and recovery in October, he said.
"It said a lot, we think, of the resilience and value of the Pandora brand," he told The Associated Press.
The company based in Oakland, Calif., posted a loss in the quarter through Oct. 31 of $1.7 million, or a penny per share. Excluding stock-based compensation and other items, earnings came to 6 cents per share, matching the forecast of analysts polled by FactSet.
Revenue rose 50 percent to $180.4 million, beating the $177 million expected by analysts. Mobile advertising revenue grew 58 percent to $104.9 million, crossing nine figures for the first time.
Pandora says it had 70.9 million active listeners in the quarter, up 20 percent from a year ago, but down slightly from the 71.2 million in the preceding quarter.
Total listener hours grew 17 percent from a year ago to 4.18 billion, also up 8 percent from the quarter through July.
The company is transitioning its fiscal year to match the calendar year, and it will next report for a two-month period ending in December.
However, analysts' expectations are still for the current quarter through January. On that basis, Pandora said it expects adjusted earnings of 2 cents to 4 cents per share. The midpoint of the range is a penny below the 4 cents expected by analysts.
It also expects adjusted revenue of $185 million to $190 million, while analysts were looking for $189 million. The adjusted figure adds back revenue from subscriptions that enable ad-free listening which is not recorded until a 30-day cancellation period passes. In the last quarter, the amount excluded only came to about $1.2 million.
Pandora shares fell 38 cents, or 1.3 percent, to $29.30 in after-hours trading, after rising $1.24 to close up 4.4 percent at $29.68 in the regular session. The stock has more than tripled this year.
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