Pandora Media (P) Tops Q1 EPS by 1c; Lifts FY Outlook Slightly

Pandora Media (NYSE: P) reported Q1 EPS of ($0.13), $0.01 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $193.4 million versus the consensus estimate of $174.94 million.

For Q2, revenue is expected to be in the range of $213 million to $218 million. Non-GAAP diluted EPS is expected to be between $0.00 and $0.03. The consensus is $219.33 and $0.05.

For FY 2014, Non-GAAP revenue is now expected to be in the range of $880 million to $900 million, from $870 million to $890 million. Non-GAAP diluted EPS is expected to be between $0.14 and $0.18, from $0.13 to $0.17. The consensus is $892.3 million and $0.16.

“Pandora started 2014 with robust momentum and continued solid growth,” stated Brian McAndrews CEO, President & Chairman of Pandora. “Our strong first quarter results demonstrate Pandora's deep listener engagement, accelerating monetization, and increasing leverage in our business model. Looking ahead, we will continue to invest aggressively to extend our leadership position and drive forward the future of radio.”

For earnings history and earnings-related data on Pandora Media (P) click here.

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