- Pandora shares are spiking Tuesday, continuing big gains over the last 6 days.
- The music streaming company is scheduled to report earnings Wednesday after the closing bell.
- The stock is down considerably over the last year, but investors are confident ahead of earnings.
Pandora is rallying Tuesday ahead of its Wednesday earnings report. The stock is up more than 4% Tuesday, a continuation of gains for six straight days. Shares are up more than 14% over the last week.
The music streaming service reports fourth-quarter and fiscal year 2017 earnings Wednesday after the closing bell. Wall Street expects the company to make $US375 million in revenue for the fourth-quarter, and earnings per share of -$US0.28. Revenue of $US375 million would be higher than the fourth quarter of 2016, when Pandora posted revenue of just above $US313 million, although it only lost $US0.13 per share in that quarter.
And while one of the latest checks on the user growth battle between Pandora and Spotify shows that Spotify has Pandora beat, investors are confident about Pandora recently. Although Pandora shares are down 59% over the last year, the stock has shot up in the last week ahead of earnings.