Pandora Shares Surge

No Comments 7 January 2014

Pandora Shares Surge

The Hollywood Reporter writes that shares of Pandora Media rocketed 14 percent Monday after the digital music service announced a new ad campaign and disclosed impressive listener hours for December.

The company said it had 76.2 million active listeners in December, up 13 percent compared to the same month a year earlier. Pandora said listening hours also grew 13 percent, to 1.58 billion in December.

Pandora’s share of the U.S. radio market was at 8.6 percent in December, up from 7.6 percent a year earlier, the company said Monday.

Shares of Pandora surged $3.90 to $31.49 on Monday. The stock also touched an all-time high of $32.45 prior to the close. At the close of trading Monday, Pandora sported a market capitalization of $6.1 billion. Click on the link below to read more…

Author: Paul Bond, The Hollywood Reporter/Billboard

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