Pandora Media and AT&T released their latest earnings reports after closing bell tonight. Pandora posted adjusted losses of 8 cents per share on $343 million in revenue, compared to the consensus estimates of 16 cents per share in losses and $351.6 million in revenue.

AT&T reported adjusted earnings of 72 cents per share on $40.5 billion in revenue, against Wall Street’s expectations of 72 cents per share in earnings and $40.63 billion in revenue, representing a 22% increase from last year. Most of that increase was due to the acquisition of DIRECTV, which was completed on July 24, 2015. In last year’s second quarter, the company posted adjusted earnings of 70 cents per share.

Pandora Media

Pandora Media plunges on weak guidance

Pandora said total listener hours increased 7% from last year to 5.66 billion in the second quarter of the year, compared to 5.3 billion in the year-ago period. The number of active listeners fell to 78.1 million from 79.4 million in the year-ago quarter. Ad revenue increased 15% to $265.1 million, while ticketing service revenue grew about 20% to $22.8 million. Adjusted EBITDA was -$25.1 million, compared to last year’s profit of $16.3 million.

Pandora Media expects third quarter revenue to be between $360 million and $370 million, which is much weaker than the consensus of $378.2 million. The company expects adjusted EBITDA of between -% million and $5 million. For the full year, Pandora expects between $1.385 billion and $1.405 billion in revenue and adjusted EBITDA of -$70 million to -$50 million.

Shares of Pandora Media plunged in after-hours trades, falling by as much as 8.17% to $11.02.

AT&T logo

AT&T falls after earnings

AT&T’s GAAP earnings declined from 59 cents per share in the year-ago quarter to 55 cents per share in this year’s second quarter. The company added 2.1 million net wireless subscribers and recorded its second lowest postpaid churn rate in the U.S. ever at 0.87%. It added 342,000 U.S. DIRECTV net subscribers and 74,000 IP broadband subscribers.

“One year after our acquisition of DIRECTV, the success of the integration has exceeded our expectations,” AT&T Chairman and Chief Executive Randal Stephenson said in a statement. “Cost synergies are ahead of target, we’ve added nearly 1 million DIRECTV subscribers since the acquisition, and our new video streaming services are scheduled to roll out later this year.”

Management said full-year guidance is on track to meet or exceed expectations. Shares of AT&T slumped in after-hours trades, falling by as much as 1.15% to $42.03.