High Hopes Associated with Pandora After Increase in Subscriber Base

Pandora Media Inc (NYSE:P) recently announced substantial increase in its subscriber base creating high hopes for investors. According to the company, its subscriber base has crossed 125 million benchmark. According to the company statistics its time listeners spend record level of 18 hours per month on Pandora Media.

The company also offers its service on more than 450 consumer devices and 16 automotive brands. The shares of the Pandora Media surged more than 8 percent on the news.

However, today the stock is down 4.34 percent to $11.91 towards the end of trading session. Investors are also hoping for better financial figures in light of the increased customer base. The company reported the revenue of $75.01 million for the quarter ending October 31st, 2011 with net profit of $0.64 million. In the last year for the quarter ending January 1st the company reported the revenue of $47.64 million.

Keeping in view the substantial increase in revenue in later quarters and now the news of increased subscriber base one can hope that company would surprise every one with attractive earnings.

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Alan Smalling

About Alan Smalling

Alan is the latest addition to our news and development team. He has worked with Pete previously on other financial websites. When we can keep him at low altitude, his contributions will mainly be focused on company news and new product launches.

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