Pandora Media reported its Q4 revenues just ahead of the market expectations but its profits failed to beat the estimates. And just before the earnings release, the New York Times reported that the Internet radio company is holding discussions to sell itself amid soaring losses, growing competition and waning investor confidence. Pandora reported revenues of $336 million for the quarter, which was $4 million ahead of the consensus estimates. Total listening hours hit 5.37 million, 3% higher than the year ago period. On the downside, total number of active users fell to 81.1 million in Q4 fiscal 2015 from 81.5 million in the same quarter last year. In Q4 fiscal 2014, the company had reported net earnings of $12.3 million but it reported net losses of $19.4 million this time around. Adjusted earnings per share came in at $0.04, three cents below the consensus estimates.  Our current price estimate for Pandora stands at $19, implying a significant premium to the current market price. However, we are in the process of updating our model in light of the recent earnings release.

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