Pandora stock crashes 15% after third quarter loss

Pandora stock crashed on Thursday after hours, as the company posted a loss of $US85.9 million in the third quarter.

The stock was down 15% as of this writing.

This loss was in line with analyst estimates, according to a survey of analysts conducted by the AP.

Revenue in the third quarter was $US311.6 million, a 30% year-over-year increase, but slightly below analyst estimates of $US312.4 million, the AP reports.

Advertising revenue for Pandora in the third quarter was $US254.7 million, a 31% year-over-year increase, and subscription (and other) revenue was $US56.9 million, a 26% year-over-year increase.

On Thursday, Pandora also confirmed that it had reached a $US90 million settlement with music labels over the streaming of audio and songs from before 1972.


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