Pandora Media shares have fallen sharply since the report of third quarter results in late October. Not only did the company issue weaker-than-expected Q4 guidance, but there were significant concerns over the pending ruling of the Copyright Royalty Board’s regarding the company’s royalty costs. The Internet radio company is scheduled to release its Q4 and full year results on February 11, and even though we expect a steady rise in its revenues, a faster increase in expenses is likely to keep the company deep in losses. Pandora expects to report revenues in the $325-$330 million range with adjusted EBITDA at ~$27 million.

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