Pandora Stock Jumps After Quarterly Results
The online radio provider reported a big revenue jump after the market close on Thursday.
NEW YORK - Pandora Media, the online radio provider that went public in June, saw its stock rise in early Friday trading after quarterly financials late Thursday drew a positive review.
As of 10:15am ET, Pandora's stock was up 7.6 percent at $13.42, giving the company a market value of $2.1 billion after earlier being up 8 percent. The shares have traded between $11 earlier this month after market decline and $26 on the day of the company's stock market debut in mid-June.
In its first earnings report as a public company, Pandora late Thursday said its fiscal second-quarter loss amounted to $1.8 million on revenue that surged 117 percent to $67 million.