Pandora shares down 17% after Q4 results, forecast miss estimates

Los Angeles

PANDORA Media Inc, the largest Internet radio service, tumbled the most in more than two years after the company's fourth-quarter results and forecast missed analysts' estimates.

The shares fell 17 per cent on Friday, the day after Pandora reported that profit, excluding items, rose to 18 US cents a share. That's shy of the 19-cent average of analysts' estimates compiled by Bloomberg. Sales grew 34 per cent to US$268 million, the company said, missing analysts' projections of US$276.6 million.