Pandora Media Preported first-quarter 2018 adjusted loss of 27 cents per share, narrower than the Zacks Consensus Estimate of a loss of 37 cents. However, the figure was wider than the year ago quarter’s loss of 24 cents.
Revenues inched up 1% year over year to $319.2 million, beating the Zacks Consensus Estimate of $304 million.
Notably, Pandora shut down its operations in Australia and New Zealand ("ANZ") and divested its Ticketfly business last year. Excluding revenues from both the businesses, the top line grew 12% year over year.
During the quarter, Pandora announced the acquisition of AdsWizz, which has customers in 39 countries.