Pandora posted a loss of $1.8m in Q2 2011

"The Oakland firm reported a 117% increase in revenue from a year earlier to $67 million as advertising and subscription sales grew.
The company, however, continued to lose money, posting a $1.8-million loss, or a loss of 4 cents a share, for the quarter that ended July 31 compared with a $1.6-million profit, or 4 cents, a year earlier.
Adjusting for stock compensation costs for its executives and other special expenses, Pandora posted $3.3 million in net income, compared with $2.6 million a year earlier. Analysts had expected Pandora to break even for the quarter on $61 million in revenue."
Source:  LA Times, 25th August 2011