Barry McCarthy, Director at Pandora Media Inc. (NYSE: P), last week bought 45,000 shares of Pandora common stock at a cost of $10.45 per share or a total investment of $470,180.
This is the second time McCarthy has bought Pandora Media shares in the past twelve months. McCarthy previously bought $1.15 million worth of Pandora Media shares.
Pandora Media shares rose marginally in Monday’s trading session. The stock ended the day 0.40% higher at $10. Year-to-date, the stock fell 0.1%, compared with a gain of 1.63% for the S&P 500.
Recently, Pandora Media released its first-quarter financial results. For the first quarter of fiscal 2013, Pandora Media reported total revenue of $80.8 million, representing an increase of 58% over the same period in the previous year. Advertising revenue for the quarter stood at $70.6 million, up 62% on a year-over-year basis. The company’s subscription and other revenue was $10.2 million, up 38% over the same period in the previous year.
Pandora Media reported net loss of $0.12 per share for the quarter. On a non-GAAP basis, the company’s net loss per share was $0.09.
Pandora Media ended the quarter with cash, cash equivalents and short-term investments of $80.6 million.
During the quarter, Pandora Media’s total listener hour grew 92% to 3.09 billion.
Looking ahead, the company expects second-quarter revenue to come in between $99 million and $101 million. Non-GAAP net loss per share for the second quarter is expected to come in between $0.03 and $0.05.
For the full fiscal year, Pandora Media expects revenue to come in between $420 million and $427 million. Non-GAAP loss per share for the full year is expected to be between $0.07 and $0.11.
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