Yahoo Finance Today’s Research Reports on Stocks to Watch: Pandora Media and Sirius XM Holdings
NEW YORK, NY / ACCESSWIRE / February 22, 2018 / Pandora shares were lifted off the launch pad in after-hours trading on Wednesday after the company reported its fourth quarter earnings. Shares of Sirius also saw a small gain after coming off of a month of big gains when it reported its fourth quarter results in January.
RDI Initiates Coverage on:
Pandora Media, Inc.
https://rdinvesting.com/report/?ticker=P
Sirius XM Holdings Inc.
https://rdinvesting.com/report/?ticker=SIRI
Pandora Media's shares were trading deep in the red on Wednesday, closing the day down 8.63% on nearly 29 million shares traded. It was in after-hours trading that shares began to soar soon after the company announced its fourth quarter results. The streaming music company reported sales and adjusted earnings that were better than what Wall Street was expecting. Revenue at $395.3 million was better than the $375.7 million expected. A net loss of $52.1 million was narrower than the $90 million loss it reported in the year ago quarter. On a per share basis it was a miss as Pandora reported a loss of 21 cents while analysts had expected a loss of 7 cents. The company also reported 5.48 million paying customers for 2017. Shares of Pandora were soaring as much as 6% in extended hours.
Access RDI's Pandora Media, Inc. Research Report at:
https://rdinvesting.com/report/?ticker=P
Sirius XM Holdings' shares closed up a modest 0.33% on about 20.6 million shares traded. There was no significant news from the company yesterday but the stock saw gains of 14% in January after the company announced a new service called SiriusXM with 360L. The service allows subscribers to choose from new on-demand content which were not available before. It also offers recommendations. Sirius also revealed its fourth quarter results and said it had its best self-pay subscriber growth in five years during the quarter. CEO Jim Meyer said, "The fourth quarter capped a strong year for Sirius XM and was our best quarter for self-pay subscriber growth in five years. We exceeded all of our 2017 subscriber and financial guidance, even after increasing these targets during the year." For the quarter, Sirius revealed a net loss of $37 million and revenue at $1.4 billion. The company expects to add 1 million new subscribers this year.
Access RDI's Sirius XM Holdings Inc. Research Report at:
https://rdinvesting.com/report/?ticker=SIRI
Our Actionable Research on Pandora Media, Inc. (NYSE: P) and Sirius XM Holdings Inc. (NASDAQ: SIRI) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
CONTACT
For any questions, inquiries, or comments reach out to us directly at:
Address:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
Email:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: RDInvesting.com
