Shares of the Oakland, California-based Pandora Media Inc (NYSE:P) plunged to record low level in over a month after mentioning advertiser caution regarding spending will direct to a broader full-year loss than the company had estimates.
Pandora, the Internet Radio Company, stock plunged 17% to settle at $7.82 at 11:39 AM and earlier fell 18% for the major one day drop since Oct 25. Shares of the company have plunged 5.6% current year through Wednesday.
Chief Executive Officer Joe Kennedy reported in a phone interview that advertisers were wary of making promises in the New Year out of fears regarding the so-called fiscal cliff talks in Washington.
The corporation reported in a statement that the loss for the fiscal year finishing Jan 31 will be 9 cents to 12 cents per share, bigger than the loss of 4 cents to 8 cents estimates in August.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Google Inc (NASDAQ:GOOG) fell -0.46% to settle at $687.82, Netflix, Inc. (NASDAQ:NFLX) moved down -3.78% to end at $83.37 while Sirius XM Radio Inc (NASDAQ:SIRI) jumped +0.36% to finish at $2.77 on Wednesday.
Pandora Media Inc (NYSE:P) last session’s volume of 23.59 million shares was higher than its average volume of 4.79 million shares. The stock after opening at $7.99 hit high price of $8.36 and then closed at $7.80 by scoring -17.46%.
Pandora Media Inc generated revenue of $338.39 million in the previous twelve months and earned -$33.18 million. The Company showed a positive -9.81% in the net profit margin as well as in its operating margin which remained at -9.68%. Company’s annual sales growth for the past five years was 130.95%.
The Pandora’s past twelve months’ price to sales ratio was 3.89 and price to cash ratio remained 16.01. As far as the returns are concerned, Pandora Media Inc’s return on equity was recorded as -33.41% and return on investment decreased -32.49% while its return on asset stayed at -18.98%.
The stock showed weekly downbeat performance of -4.65% which was maintained for the month at -6.81%. Likewise the negative performance for the quarter was recorded as -36.43% and for the year was -27.64% while the YTD performance remained at -22.08%.
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