Earnings News: Pandora Media (P), Aeropostale Inc (ARO), The Gap Inc (GPS)

1 MIN:04SEC
Category: Companies / Aug 22, 2013 6:15PM EDT

Pandora Media Inc. (NYSE:P) reported second quarter adjusted earnings of 4 cents a share on revenue of $157 million, compared to a loss of 3 cents a share on revenue of $101.3 million a year-ago. Wall Street had expected the company to report earnings of 3 cents a share on $156 million in revenue, according to analysts polled by Reuters.

However, the company's outlook fell short of expectations. For the fiscal third quarter, Pandora said it expects non-GAAP earnings of 3 cents per share to 6 cents per share, below Wall Street estimates of 8 cents a share.

On Thursday, shares of Pandora Media Inc. dropped 7.32 percent to $20.12 in after-hours trading.

The Gap Inc. (NYSE:GPS) issued second quarter earnings of 64 cents per share on revenue of $3.87 billion, compared with earnings of 49 cents per share on revenue of $3.6 billion a year earlier. Analysts expected the teen retailer to report second quarter earnings of 61 cents per share on revenue of $3.83 billion, according to analysts polled by Reuters.

In addition, The Gap Inc. raised its full-year earnings guidance to $2.57 to $2.62 per share.

Shares of The Gap Inc. fell 1.21 percent to $41.50 after the bell.

Aeropostale Inc. (NYSE:ARO) reported a second quarter loss of 34 cents per share excluding items, while revenue fell came in at $454 million, compared with a profit of 0 cent a share on revenue of $485.3 million in the same period a year earlier.

Wall Street estimated the retailer would report a loss of 25 cents a share on revenue of $453.97 million, according to analyst polled by Reuters.  

For the fiscal third quarter, Aeropostale expects a net loss in the range of 21 cent to 26 cents per share.

Shares of Aeropostale Inc. sank 11.66 percent to $9.70 in extended-hours trading.

Marvell Technology Group Ltd. (NASDAQ:MRVL) reported second quarter earnings of 23 cents per share on revenue of $807.1 million, compared with earnings of 16 cents per share on revenue of $816.1 million in the year-ago period. Analysts had expected the company to issue second quarter earnings of 9 cents per share on revenue of $790.5 million, according to analysts polled by Reuters.

Guidance for the fiscal third quarter is estimated to come in between 23 cents per share to 27 cents per share.

Shares of Marvell Technology Group Ltd. were down 1.23 percent to $12.80.

On the earnings calendar for Friday, investors will be watching quarterly results from Foot Locker.

Foot Locker Inc. (NYSE:FL) is expected to report second quarter earnings of 48 cents per share on revenue of $1.46 billion, according to analysts polled by Reuters.  In the year-ago period, Foot Locker reported EPS of 39 cents on revenue of $1.37 billion.

On Thursday, Foot Locker Inc. closed the session down 0.15 percent to $34.01.

Wall Street managed to close higher on Thursday, after the NASDAQ halted trading for over three hours due to a technical glitch.

The Dow Jones industrial average rose 66.19 points, or 0.44 percent, to close at 14,963.74. The S&P 500 Index was up 14.16 points, or 0.86 percent, to end at 1,656.96. The Nasdaq Composite Index gained 38.92 points, or 1.08 percent, to finish at 3,638.71.