Pandora Posts First Quarterly Results as a Public Company

Orlando, FL 11/23/11 (StreetBeat) --Pandora Media (NYSE: P) reported third quarter earnings late yesterday, the company’s first quarterly earnings announcement since its initial public offering.

The internet radio company said it swung to a profit of $638,000, or breakeven per share, compared to a loss of $1.7 million, or $0.15 per share, in last year’s third quarter.

Adjusted earnings of $0.02 per share beat analyst expectations for a loss.

Revenue nearly doubled, rising to $75 million from $37.7 million last year, also ahead of analyst expectations.

Pandora forecast a loss of $0.02 to $0.04 per share in the fourth quarter, worse than analysts are predicting.

There has been a rash of internet offerings and potential offerings in recent months. Other recent internet IPOs include Angie’s List (ANGI) last week, Groupon (GRPN) earlier in November, and LinkedIn (LNKD) in the spring.

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