Quarterly revenue totaled $376.83 million, up from $343.02 million in the year-ago period. Net loss for the quarter was $275.14 million, or $1.20 per share, compared with a loss of $76.33 million, or 33 cents per share, in the year-ago period. Pandora credited the larger loss to a one-time writedown from its sale of Ticketfly and other related one-time expenses.
Although further development of the Premium service has been put on hold, subscription revenue still rose 25% on year $68.9 million. Paid subscriber numbers rose from 3.93 million to 4.86 million. Advertising revenue reached 278.2 million, up 5% year-over-year. Ad RPM (revenue per thousand listening hours) grew, another important metric, rose to $66.15 in this quarter, up 24% from $53.34 in Q2 2016.
Listener hours totaled 5.22 billion in Q2 2017, compared with 5.66 billion in the year-ago period. According to Pandora’s press release, the company actively managed listener hours during the period to optimize profitability for the ad-supported service. Pandora said it reached 76 million active listeners at the end of the quarter.