OAKLAND (CBS SF) – Shares of Pandora Media Inc. are dropping after the Internet radio leader’s outlook for the three months through January was mostly short of Wall Street’s forecast.
The company on Thursday posted a loss 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.READ MORE: San Francisco Police Scheduled Town Hall Meeting Over Fatal SFO Shooting
Revenue rose 50 percent to $180.4 million, beating the $177 million expected by analysts.READ MORE: Sonoma County DA Warns Of Rising 'Jury Scam' Calls Warning People Of Fines, Arrests
Pandora says it had 70.9 million active listeners in the quarter, up 20 percent from a year ago. Total listener hours grew 17 percent to 4.18 billion.
Shares are off 4.8 percent to $28.26 in after-hours trading. The stock has more than tripled this year.MORE NEWS: 49ers All-Pro LT Trent Williams Questionable For NFC Championship
(Copyright 2013 by CBS San Francisco and Bay City News Service. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)