Internet radio company Pandora reported the financial results for its first three months as a public company on Thursday. The Oakland, Calif.–based company confirmed that while it still has a long way to go before it reaches the listener levels of terrestrial radio, its ads are now just as valuable as traditional stations’.
Pandora posted total revenue of $67 million during the second fiscal quarter of the year, more than doubling its revenue from the same period one year ago. Revenue from ads accounted for the lion’s share of Pandora’s Q2 sales, totaling $58.3 million.
And while Pandora did not turn a bottom-line profit for the quarter — the company’s net loss was $1.8 million — it seems to be impressing Wall Street with the traction it has gotten thus far. On a phone call with investors and analysts after the stock market closed on Thursday afternoon, Pandora confirmed that pound for pound its ads are just as valuable as those broadcast on traditional radio.
Read more from Colleen Taylor here: http://gigaom.com/2011/08/25/pandora-ads-traditional-radio/
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