Pandora Posts Second Quarter Results
Internet radio service Pandora has posted second-quarter financial gains with revenues of $67 million, a 117 percent year-over-year increase. Advertising revenue totaled $58.3 million, a 118 percent increase, and subscription and other revenues reached $8.7 million, a 112 percent increase compared to last year. Total listening hours reached a record 1.8 billion, a 125 percent year-over-year increase, with Pandora accounting for 3.6 percent of total U.S. radio listening, up from 1.8 percent last year. Despite the growing numbers, Pandora posted an overall $3.2 million loss for the quarter. (8/26)