Pandora reports Q2 adjusted EPS (21c), consensus (24c)
Reports Q2 revenue $343.02M, consensus $368.87M. Ad RPM grew to $66.15 in Q2 2017 from $53.34 in Q2 2016, growing 24% year-over-year. Reports Q2 ad revenue $278.2M. Reports Q2 subscription revenue $68.9M. "We have taken a number of steps to hone the company's strategy and position Pandora to continue to build audience and extend monetization through a combination of advertising and subscription revenue streams. In addition to exceeding our revenue expectations this quarter, we also announced several important strategic moves including a $480 million investment from Sirius XM, the sale of Ticketfly, and changes to our board and management team," said Naveen Chopra, CFO and interim CEO of Pandora. "We remain laser-focused on execution that attracts listeners and investments that drive the growth and monetization of our audience."