Pandora Stock Jumps As Revenue Beats The Street, Grows 58% To $128.5M; Mobile Ad Revenue Hits Record High

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From Techcrunch:

Pandora launched an ad-free version for Windows 8 in March, surpassed 200 million users (with over 140 million accessing Pandora via mobile) in April, then launched a “Premieres” station for U.S. users and deepened its Facebook integration with a new Timeline App.

Today, Pandora’s first quarter earnings reflected this flurry of activity, as the company saw GAAP total revenue increase 97 percent year-over-year to $83.9 million (with non-GAAP mobile revenue of $86.7 million), which outpaced mobile listener hour growth at 47 percent year over year. Meanwhile, total revenue came in at $125.5 million, representing 55 percent year-over-year growth and non-GAAP total revenue of $128.5 million.

What’s more, share of total U.S. Radio listening for Pandora grew to 7.33 percent in April — an increase from 5.86 percent in the same period last year.

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