The Canadian PressMay 23, 2013 18:16
OAKLAND, Calif. - Internet radio company Pandora Media Inc. reported higher-than-expected revenue in the latest quarter, with losses in line with analysts' forecasts, as the number of subscribers who pay for ad-free listening more than doubled to exceed 2.5 million.
The company predicted that it may break even in the current quarter after adjusting for one-time costs. Its stock jumped in after-hours trading.
The net loss in the three months ending April 30 grew to $28.6 million, or 16 cents per share, from a loss of $20.2 million, or 12 cents per share, a year ago.