Tech Pandora topped Q2 revenue targets and its stock just had a wild rebound (P)

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The music streaming company's revenues hit $376.8 million, above analyst estimates of $368.87 million.

Traders work at the kiosk where Pandora internet radio is traded on the floor of the New York Stock Exchange, in this June 15, 2011 file photo. REUTERS/Brendan McDermid/Files play

Traders work at the kiosk where Pandora internet radio is traded on the floor of the New York Stock Exchange, in this June 15, 2011 file photo. REUTERS/Brendan McDermid/Files

(Thomson Reuters)
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Pandora released its Q2 earnings on Monday, topping Wall Street's revenue target and sending shares soaring 7% in after hours trading.

The stock move was a rebound from a sell off earlier in the day that sent Pandora shares down 5% in regular trading, after the company announced it would shut down its services in Australia and New Zealand, and operate exclusively in the United States.

Here's what it reported:

  • Earnings per share (non-GAAP) — Pandora said it lost $0.21 per share in the second quarter, compared to analyst estimates of losses of $0.24 per share. In the same period last year, Pandora posted losses of $0.12 per share.
  • Revenues (GAAP) were $376.8 million, compared to analyst estimates of $368.87 million. In the same period last year, Pandora posted $343 million in revenues.
  • Net losses (GAAP) were $275.1 million. In the same period last year, Pandora posted $76.3 million in net losses.
  • Subscription revenues were $68.9 million, up 25% from last year.
  • Ad revenues were $278.2 million, up 5% from last year.
  • Ticketing service revenues were $29.7 million, up 31% from last year.