Pandora Media Posts Q3 Loss
Pandora Media Inc. swung to a fiscal third-quarter loss as the Internet-radio provider spent more on content and sales and marketing, masking a jump in revenue as users listened to more music.
For the fourth quarter, Pandora projected adjusted earnings between two cents to four cents a share, compared with the four-cent estimate of analysts surveyed by Thomson Reuters. The company also forecast adjusted fourth-quarter revenue of $185 million to $190 million.