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Pandora's Revenue Tops Estimates as Listener Hours Increase

Pandora Media Inc., the Internet radio pioneer, posted first-quarter sales that beat analysts’ estimates as listeners spent more time on the service, giving the money-losing company breathing room to build newer businesses like ticketing and on-demand music.

Revenue rose 29 percent to $297.3 million, Oakland, California-based Pandora said Thursday in a statement, exceeding the $285.2 million average of estimates compiled by Bloomberg. The company posted a loss of 20 cents a share, excluding items, compared with analysts’ forecasts for a 32-cent loss.

  • Active listeners grew to 79.4 million from 79.2 million a year ago.
  • Total listener hours increased 4 percent to 5.52 billion.
  • The...