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Pandora Media Inc (NYSE:P) reported a net loss of $5.4 million for the second quarter of fiscal year 2013, despite recording a whopping 51% rise in revenues. The company’s net loss rose by a thundering 69% from last year’s Q2 figure of   $3.2 million. However, the former represented a net loss of $0.3 per share, while the latter, that is last year’s loss represented $0.4 per share. This was due to dilution of E.P.S between the two periods.

According to reports, Q2 revenue stood at $101.3 million for the media company, while the previous period’s figure was pegged at $67 million. A majority of this growth originated from advertisement revenues, which rose by a whopping 53%, to settle at just under the $85 million mark, while revenue from subscriptions stood at just under $10 million, representing 36% growth year on year.

Joe Kennedy, Pandora’s CEO is quoted in a statement saying, “this quarter exceeded our expectations as our strong momentum continues with both listeners and advertisers,” in reference to the results, he later added, “in particular, this quarter demonstrated that our mobile monetization strategies are working.”  This is quite an achievement by the form as many companies have struggled in monetization of mobile advertising.

Facebook Inc (NASDAQ:FB) in particular, is one company that has come out in the open to express its desire to capitalize on mobile advertising, which will mean monetization of the usage of the platform by its subscribers. Other social networks also depicted the same struggle, including LinkedIn Corporation (NYSE:LNKD), and Google Inc (NASDAQ:GOOG)’s Google+.

Interestingly, Pandora Media Inc (NYSE:P) managed to harness a staggering $59.2 million in mobile revenue from advertisements, which represented 53.2% of the total revenue, contrary to the giants listed above.

Nonetheless, this $2b cap media company expects an improvement in its Q3 results, and predicts to break-even in Earnings per share, or better still, $0.1 earnings per share. Additionally, revenue is projected to range between $115 million and $118 million, or an average of approximately 16% growth quarter to quarter.

However, in terms overall achievement for the fiscal year 2013, the company expects at least a net loss of $0.4 per share, but not exceeding $0.8 per share, while revenues will just be shy of $0.5 billion mark, ranging between $425 million and $432 million.

The reported revenue of $101.3 exceeded Goldman Sachs Group, Inc. (NYSE:GS) analyst’s estimate of $100.4 million, who also has a price target of $12 per share on Pandora Media Inc (NYSE:P) stock in 2012. Additionally, Goldman Sachs Group, Inc. (NYSE:GS) does not expect Pandora to report any positive earnings per share over the next three years, despite making significant revisions following the earnings report.

At the time of this writing, Pandora Media Inc (NYSE:P) stock was trading at $11.99 per share, having gained $1.91 or an overwhelming 18.95% increase from yesterday’s close of $10.18, following the announcement of the 2013 Q2 results.