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Pandora Rallies as Results Top Estimates, 7% Cut in Jobs Set

  • Some 375,000 new subscribers to Pandora Plus in quarter
  • Radio pioneer introducing news services as part of overhaul
Updated on

Pandora Media Inc., the world’s largest online radio service, rose in early trading after it said fourth-quarter results exceeded its forecast on strong ad sales and new paid subscribers. The company is also eliminating jobs to boost efficiency.

Shares of Pandora gained 9.1 percent to $13.09 at 6:59 a.m. in New York Friday. The stock climbed 0.9 percent to $12 at the close Thursday and declined 2.8 percent for all of 2016.