Pandora's Margins Will Remain A Concern But Monetization Can Improve

. Although Pandora no longer provides monthly updates for its operating metrics, we expect the steady rise in its revenues and market share continued into the third quarter. However, due to the company's aggressive investment in sales and marketing capability, its profits likely remained under pressure. Similar to Q2 2014, Pandora's ad monetization likely grew, both sequentially and year over year, driven by a continued uptick in its mobile ad business.