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African swine fever, which has already ravaged pig herds in China and pushed up food prices there, could also drive up inflation in the other emerging markets, according to...Asia Economyread more
Consumer goods giant Unilever has taken the unusual step of having some of its marketing staff read their own DNA profiles to see whether finding out about their heritage has...Marketing.Media.Moneyread more
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In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
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Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
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The stock popped as much as 7 percent in extended trading, briefly wiping out the day's losses. But after an initial spike, shares lost steam and flattened out.
Pandora's narrower-than-expected losses signal a sigh of relief after a rough-and-tumble year at the online radio company.
Co-founder Tim Westergren stepped aside as CEO for the second time in June, amid the company's ongoing battle against the likes of Spotify and Apple Music. The company fended off an acquisition offer from SiriusXM, only to accept a from the satellite radio company. That investment was in lieu of an investment from KKR, a firm known for private equity deals. Pandora and KKR had reached an agreement on a $150 million investment in May.
Despite the drama, Pandora managed to increase both advertising revenue and subscriptions during the second quarter, boosting revenue.
The company has also announced divestiture of online ticket platform Ticketfly and the discontinuation of Pandora operations in Australia and New Zealand.
"We have taken a number of steps to hone the company's strategy and position Pandora to continue to build audience and extend monetization," said Naveen Chopra, chief financial officer and interim CEO of Pandora.