“NEW YORK (TheStreet) — Pandora Media (P_) shares were jumping more than 9% to $18.73 in afterhours trading after the biggest online radio service beat first-quarter revenue expectations. The company’s revenue outlook also topped expectations as its mobile advertising sales accelerated and the company added more subscribers during the quarter.
During the first quarter, mobile revenue grew 101% year-over-year to $86.7 million, outpacing mobile listener hour growth, which grew 47% year-over-year. Also, Pandora One subscribers surpassed 2.5 million, adding over 700,000 net new subscribers in the first quarter and growing 114% year-over-year. Total listener hours grew 35% to 4.18 billion…..”
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