Pandora Media Inc (NYSE:P) has reported a revenue of $230.8 million in 1Q2015 beating the projected estimates of analysts on the Wall Street. It is accounted for a loss per share of 12 cents.
The subscription revenue and other revenue of Pandora increased to $52 million, a yearly increase of 32%. The company’s ad revenue has also surged to $178.7 million, an annual increase of 27%.
The users, who listen to music on mobile devices, have contributed to the revenue of $181.1 million.
According to estimates of the analysts, the revenue of Pandora, was $225million, just 16 cents loss for each share, on a non-GAAP basis. On the other hand, Pandora reported 23 cents loss per share against the estimates of 27 cents loss per share on GAAP basis.
The listener count of Pandora music saw an annual increase, but it has declined on quarterly basis.
According to Pandora, the active listeners of the music were 79.2 million in 1Q2015, who listened to 5.3 billion hours, an increase of 3.9 million over the same quarter previous year.
However, the active listener base decline to 79.2 million in 1Q2015 from 81.5 million in the previous quarter. The users listened to 5.2 billion hours of music in 4Q2014.
Pandora faces competition from Apple (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOGL)
Pandora has consistently remained in the top 10 music providers on the App store online.
Though, Pandora has achieved success on the Google Play and the App Store, the company is facing fierce competition from the biggest names in the tech space in the recent past.
To add to the vows of Pandora, Apple Inc. (NASDAQ:AAPL) has unveiled iTunes Radio in the year 2013. Apple purchased Beats in the recent past. It is planning to integrate Beats into iTunes Radio.
Meanwhile, Google Inc (NASDAQ:GOOGL) has introduced Google Play All Access, its music service, in 2013.
Amazon.com, Inc. (NASDAQ:AMZN) has also started offering free music service to its Prime members since March.
