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Pandora's revenue misses estimate as advertisers spend less

Published 02/05/2015, 04:43 PM
Updated 02/05/2015, 04:50 PM
© Reuters. Screen displays the name of music streaming company Pandora on the floor of the New York Stock Exchange shortly after the start of trading in New York
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(Reuters) - Online music streaming service Pandora Media Inc (N:P), reported lower-than-expected quarterly revenue as growth in mobile advertising slowed down, sending shares down 21 percent in extended trading.

Net income rose to $12.3 million, or 6 cents per share, in the fourth quarter ended Dec. 31, from $8.9 million, or 4 cents per share, a year earlier.

© Reuters. Screen displays the name of music streaming company Pandora on the floor of the New York Stock Exchange shortly after the start of trading in New York

Revenue rose to $268 million from $200.4 million.

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