Today Pandora reported its fourth quarter financial performance, including revenue of $125 million, and a GAAP loss per share of $0.09. Non-GAAP EPS performance came in at a loss per share of $0.04. Analysts had expected Pandora to report revenue of $123 million, and a loss per share of $0.05.
In after hours trading, Pandora has skyrocketed. Given that its non-GAAP EPS performance and revenue figures bested expectations, you might expect a modest bump in its share price. However, at the time of writing Pandora has risen 23%.
For the full fiscal year, Pandora had revenues of $427.1 million, up 56% year over year. The company’s fourth quarter revenue, by comparison, was up 54% compared to the year ago quarter.
Perhaps most key to Pandora’s performance is its mobile revenue growth. Its mobile revenue of $80.3 million in the fourth quarter was up 111% on a yearly basis. Total mobile listener hour growth was up 70% year-over-year during the same period.
The <3 of EU tech
The latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!
Pandora remains heavily dependent on advertising revenue. Its subscription revenue accounted for around $51.9 million of its 2012 revenue. The company ended its fiscal 2013 year – I’m unsure how it ended up with that calendar setting – with cash and equivalents on hand of $89 million. That’s up from the prior quarter.
Finally, Pandora’s total hours listened during the quarter of 4.05 billion was 53% higher than the year ago quarter, tracking its revenue growth neatly.
Update: Pandora’s CEO is stepping down. The board is looking for a replacement. More details can be found here.
Top Image Credit: liz west
Get the TNW newsletter
Get the most important tech news in your inbox each week.