Pandora Media Inc., the Internet radio service, posted a surprise profit in the third quarter, as sales of $75 million beat analysts’ estimates.
Net income was $638,000, or breakeven per share, compared with a loss of $1.77 million a year earlier, the Oakland, California-based company said Tuesday in a statement. Excluding some items, profit of 2 cents beat the average 1-cent loss projected by 13 analysts.
Sales almost doubled from $37.7 million a year ago, outstripping the $71.6 million average of analysts’ estimates.
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