Pandora Lost $131 Million In Q1

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Despite the big revenue gain in Q1, Pandora is still losing a lot of money. In the first quarter of 2018, Pandora’s net loss was $131.7 million compared to a net loss of $132.3 million in the same quarter in 2017. Adjusted EBITDA was a loss of $73.3 million, compared to a loss of $71.3 million in the same quarter last year.

Total listener hours were 4.96 billion for the first quarter of 2018, compared to 5.21 billion in Q1 of 2017. The company had 72.3 million active listeners at the end of Q1, compared to 76.7 million a year ago.

In Q1, Pandora had to shell out 68% of its revenue to cover the cost of content. The company expects to lose between $30-$45 million in Q2, the mid-point would be a $5 million improvement over 2017.

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