Pandora Posts Surprise Third-Quarter Profit

 David Paul Morris/Bloomberg/Getty Images

The online music service doubled its quarterly revenue and recorded slight profit in the latest period.

NEW YORK - Pandora Media on Tuesday reported improved third-quarter financials and posted a surprise profit.

The online music service provider reported a slight quarterly profit of $638,000, compared with a $1.8 million loss in the year-ago period. Wall Street observers had forecast a loss.

Revenue rose 99 percent to $75 million, doubling last year's $37.7 million.
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