In 2013, Pandora was able to invest back into its business, improve its product, “innovate across multiple technologies, devices and automotive platforms in our continuing efforts to reinvent radio,” says President/Chairman/CEO Brian McAndrews.
In revealing the Internet audio company’s latest financial results, he points to Pandora’s position “as a leader in mobile media.”
Pandora’s reported total yearly revenue increased 52% to $200 million however it still ended 2013 with a loss, according to the company.
In the fourth quarter, Pandora had non-GAAP revenue of $200.8 million, and non-GAAP earnings per share (diluted) of $0.11. Investors had expected $0.08 in earnings per share and revenue of $201 million, according to financial reports.
Total listener hours grew 16% to 4.54 billion for Q4 2013, compared to 3.91 billion for the same period a year previously.