(Hypebot) – Pandora shared its Q2 report on Monday, and even though music streaming is exploding globally, this streamer's active user numbers remained flat at 76 million. Wall Street applauded, however, since the company reported better than expected returns and signs of growth in revenue, paid subscriptions and average monthly listener days.
Key Pandora Q2 User Base Metrics:
Key Financial Metrics:
"We have taken a number of steps to hone the company’s strategy and position Pandora to continue to build audience and extend monetization through a combination of advertising and subscription revenue streams. In addition to exceeding our revenue expectations this quarter, we also announced several important strategic moves including a $480 million investment from Sirius XM, the sale of Ticketfly, and changes to our board and management team," said Naveen Chopra, CFO and interim CEO of Pandora. "We remain laser-focused on execution that attracts listeners and investments that drive the growth and monetization of our audience.