The Canadian PressNovember 21, 2013 17:19
LOS ANGELES, Calif. - Shares of Pandora Media Inc. slipped Thursday after the Internet radio leader gave an outlook for the three months through January that was short of Wall Street's forecast.
Chief Financial Officer Mike Herring said, however, that the impact from the Sept. 18 launch of Apple Inc.'s rival iTunes Radio was "modest." Pandora noticed a quick dip in users, followed by stabilization and recovery in October, he said.
"It said a lot, we think, of the resilience and value of the Pandora brand," he told The Associated Press.