Following its impressive Q1 earnings, Pandora CFO, Mike Herring, talks to Billboard about how his company plans to keep up growth, the potential impact of its upcoming prices increase for its ad-free service and why its stock price dropped.
Aided by a surge in mobile advertising, Pandora posted stronger than expected revenue of $194.3 million its first quarter, up 69% from a year ago. Losses narrowed to $28.9 million, down from $38.7 million a year earlier. The Internet radio company also said it expects to turn a profit for the full year.
Apple Inc., whose fortunes remain under a microscope three and a half years after the death of its founder Steve Jobs, surprised Wall Street on Wednesday with higher than expected revenue and an announcement that it will boost its dividend, initiate a one to seven stock split and buy back even more of its own shares.
Beats Music is giving listeners on iOS devices the ability to subscribe to its on-demand service directly within the app, a move that requires the company to pay Apple $3 a month for every subscriber that uses iTunes to pay their monthly $10 fee.