Tech: Pandora topped Q2 revenue targets and its stock just had a wild rebound (P)

The music streaming company's revenues hit $376.8 million, above analyst estimates of $368.87 million.

Pandora released its Q2 earnings on Monday, topping Wall Street's revenue target and sending shares soaring 7% in after hours trading.

The stock move was a rebound from a sell off earlier in the day that sent Pandora shares down 5% in regular trading, after the company announced it would shut down its services in Australia and New Zealand, and operate exclusively in the United States.

Here's what it reported:

• Earnings per share (non-GAAP) — Pandora said it lost $0.21 per share in the second quarter, compared to analyst estimates of losses of $0.24 per share. In the same period last year, Pandora posted losses of $0.12 per share.
• Revenues (GAAP) were $376.8 million, compared to analyst estimates of $368.87 million. In the same period last year, Pandora posted $343 million in revenues.
• Subscription revenues were $68.9 million, up 25% from last year.
• Ad revenues were $278.2 million, up 5% from last year.
• Ticketing service revenues were $29.7 million, up 31% from last year.

The music streaming company's revenues hit $376.8 million, above analyst estimates of $368.87 million. Read Full Story