Pandora Tops 200 Million Users as Mobile Strengthens
NEW YORK (TheStreet) -- Pandora Media
The company has experienced strong growth in the past couple of years, doubling its user base, as more customers listen to their music on phones and tablets. In 2011, Pandora had over 100 million registered users, and has since seen another 100 million registered users sign up for its service.
"I have to admit, we had no idea what was in store," said co-founder Tim Westergren in the press release, describing creating the service. "It has been, and continues to be, an extraordinary experience for all of us."
Pandora recently posted exceptionally strong fourth-quarter results, as revenue rose 54% year-over-year to $125.1 million.
The Oakland-based Pandora gave first-quarter guidance that was sharply higher than what Wall Street was expecting. The company expects to lose, on a non-GAAP basis, 10 cents to 13 cents a share, but revenue is expected to be between $120 million and $125 million in the first quarter. Analysts surveyed by Thomson Reuters expect a loss of 11 cents on $123.68 million in sales.
Shares of Pandora were higher in early Thursday trading, up 1.26% to $13.61.
--Written by Chris Ciaccia in New York
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