Pandora (NYSE: P) shares are up 11% in after-hours trading. All it took was the first breakeven quarter since last fall.
The online radio company’s stock breached $11 a share after reporting that its second-quarter revenue increased 51% from a year ago. The flat earnings also outpaced analyst expectations of a 3-cent loss.
That’s a vast improvement from the $20 million loss the company suffered the previous quarter, and the $8 million loss from the quarter before.
At $101 million, revenue was 25% more last quarter.
Still, Pandora can’t seem to figure out how to make money. That’s why the stock is down 42% from its IPO last June. Even with today’s improved earnings report, it’s hard to validate investing in a company that has never been profitable.
For now, though, Pandora has its day in the sun. We’ll see if it lasts.