Pandora Reports $1.7 Million Loss In Q3 Despite A 58% Rise In Mobile
November 22, 2013 at 3:58 AM (PT)
PANDORA has reported a third-quarter loss, "after spending more on development, marketing and overhead as it defends its turf against new competition," reports BLOOMBERG.
The net loss was $1.7 million, compared with profit of $2.05 million last year. Mobile was the biggest slice of profits, up 58% to $104.9 million. The webcaster reported a drop in active users last month.
“We are investing aggressively in product development,” said CFO MIKE HERRING. “We also continue to invest heavily in sales and marketing to drive market share and top-line growth.”