Pandora Media sees profit rise

Online music company Pandora Media posted better-than-expected quarterly revenues and profits yesterday in its maiden results as a public company. Just two months after joining the public market, Pandora said sales more than doubled to $67m (£41m) and its underlying profit was $0.20 per share. Shares in Pandora, which sells advertising for mobile phones and music players, have fallen by more than a fifth since it floated on the New York Stock Exchange but closed up 3.3 per cent on the news.

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