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Pandora Shares Jump on Higher-than-Expected Sales

Pandora Media (P - Get Report) was surging in after-hours trading Thursday as the largest online radio service reported a first-quarter loss that was less than analysts had expected.

Shares of the Oakland, Calif., company were rising 11% in after-market trading on a stock that closed the day at $9.43.

Pandora, which tailors its radio song list to a listener's personal tastes, needed to show investors that the company can extract more revenue out of its more than 80 million average monthly listeners and that new features such as Ticketfly, the concert promotion service it acquired in October, are sufficient to retain market share in the face of advances by Apple (AAPL - Get Report) Music and privately held Spotify.

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