Pandora's Departing CEO Talks Blowout Numbers On Earnings Call

Showing off the versatility of the company's product, Pandora actually played its own online streaming-music service, which is a nice change from the regular hold music, at the beginning and end of the call.

CEO Joe Kennedy, who just announced he was stepping down as the company searched for his replacement, and CFO Mike Herring went over the numbers, which analysts generally viewed as great.

But the most interesting came at the end, where Kennedy talked about why he was leaving the company.

He admitted the decision was "recent" but linked it to the company's increasing confidence in its ability to make money from its mobile users, who now account for most of the service's usage.

Mobile revenue is growing faster than mobile listening, which is a good sign for the company, since it has to pay music labels for all the music its users listen to whether it sells ads or not.

Here are our running notes from the call: