Pandora Media, the company behind the popular Internet radio service about to face major competition from Apple, reported on Thursday a loss of $7.8 million, or about 4 cents a share, for the second quarter but the company continues to experience rapid growth.
Pandora said it had $157.4 million in revenue for the quarter ending in July, up 55 percent from the same period a year ago.
The ad revenue Pandora collects from mobile devices, where the majority of its 71.2 million active users do their listening, has also shot up quickly. It made $116 million from these ads in the quarter, up 92 percent from a year ago. At that time the company was charging $22.17 for every 1,000 listening hours served to mobile devices, but last quarter that rose to a high of $33.90.
Read the full story at Ad Revenue From Mobile for Pandora Increases – NYTimes.com.
