NEW YORK, NY / ACCESSWIRE / November 6, 2017 / Shares of Tivo slipped on Friday, despite the company announcing third-quarter results that fared pretty well compared to estimates and an outlook higher than its previous outlook. Pandora Media was one of the biggest decliners in the market in Friday trading, after posting its Q3 report that missed on revenues. The company also released an outlook that was below estimates.

RDI Initiates Coverage on:

TiVo Corporation
http://www.rdinvesting.com/report/?ticker=TIVO

Pandora Media, Inc.
http://www.rdinvesting.com/report/?ticker=P

TiVo Corporation's shares closed down 3.62% on nearly 900,000 shares traded this past Friday. The digital home entertainment services company posted its third quarter financial results that showed a GAAP loss per share of 14 cents. Revenues were a win at $197.9 million, growing 29.2% year-over-year. Looking ahead the company has even updated its expectations for 2017. It now forecasts GAAP operating loss in the range of $2-$8 million. Previously the company had forecast a loss between $11 million and $16 million. GAAP loss before taxes is now estimated to lie between $60 million and $70 million. Earlier, Tivo had estimated a range of $70-$80 million. Revenues at $810 to $830 million are in line with the estimates of $823 million by the Street.

Access RDI's TiVo Corporation Research Report at:
http://www.rdinvesting.com/report/?ticker=TIVO

Pandora Media, Inc.'s shares were obliterated in Friday trading, closing the day down nearly 25%. The stock hit a new low of $5.35 during intra-day trading after posting its third-quarter results and a disappointing outlook. The company posted an adjusted loss per share of 6 cents which did beat the consensus expectation of a loss of 7 cents per share. Revenues, however, were a miss at $378.6 million, dragging behind the $383 million that was expected. Looking ahead, the company also estimates that revenue will be between $365 and $380 million, which is below the estimate of $412 million in revenues that the Street has. The dismal outlook would also mean a year-over-year slump in revenue. On the earnings call, Pandora's management said, "Our Q4 revenue guidance incorporates continued subscription growth offset by a year-over-year reduction in advertising revenue." Pandora believes it will "take some time" to improve ad-tech challenges as well as monthly active user trends.

Access RDI's Pandora Media, Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=P

Our Actionable Research on TiVo Corporation (NASDAQ: TIVO) and Pandora Media, Inc. (NYSE: P) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com