Webcaster Pandora reported record earnings yesterday for its second quarter, $162 million (up 58% from a year ago). Executives say the growth was driven by mobile -- its total mobile revenue went up 92% year-over-year to $116.0 million. Pandora -- says eMarketer -- is now behind only Google and Facebook as the third largest generator of mobile ad revenue. Total ad revenue was $128.5 million, a 44% increase. And local sales quadrupled in 2Q over last year.
Over the last quarter, listeners tuned in for 3.88 billion hours, giving Pandora a 7.08% share of all radio listening in the U.S. The service now has 71.2 million regular users.
"Pandora has quickly become the largest radio station in nearly every major market in America," CFO Mike Herring told analysts on the earnings call.
Positive earnings and usage growth were apparently overshadowed by Pandora's widened second-quarter loss, and the webcaster's narrowed guidance for third-quarter earnings. Pandora stock fell in after-hours trading.