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Tech

Pandora Posts 3Q Loss, Revenue Up 50 Percent

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Traders on the floor of the New York Stock Exchange walk wear an insignia for Pandora Media Inc., the online-radio company, on its first day of trading as a public company on June 15, 2011 in New York City. (Spencer Platt/Getty Images)

Traders on the floor of the New York Stock Exchange walk wear an insignia for Pandora Media Inc., the online-radio company, on its first day of trading as a public company on June 15, 2011 in New York City. (Spencer Platt/Getty Images)

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OAKLAND (CBS SF) – Shares of Pandora Media Inc. are dropping after the Internet radio leader’s outlook for the three months through January was mostly short of Wall Street’s forecast.

The company on Thursday posted a loss of $1.7 million, or a penny per share. Excluding stock-based compensation and other items, earnings came to 6 cents per share, matching the forecast of analysts polled by FactSet.

Revenue rose 50 percent to $180.4 million, beating the $177 million expected by analysts.

Pandora says it had 70.9 million active listeners in the quarter, up 20 percent from a year ago. Total listener hours grew 17 percent to 4.18 billion.

Shares are off 4.8 percent to $28.26 in after-hours trading. The stock has more than tripled this year.

(Copyright 2013 by CBS San Francisco and Bay City News Service. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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