Pandora plunged sharply after the music streaming company on Thursday reported quarterly revenue that widely missed expectations as mobile advertising growth slowed.
The company posted sales of $268 million, which fell short of Wall Street estimates for $277 million, according to expectations from Thomson Reuters. Earnings matched expectations at 18 cents a share.
Shares plummeted as much as 26 percent in extended-hours Thursday following the report, breaking below the IPO price of $16 a share. (Click here to see how Pandora is trading.)