Even as Pandora Media reports soaring first-quarter revenue, the streaming radio service said losses more than doubled in the period. Pandora, gearing up for an IPO next month, incurred losses of $6.8 million on a 131 percent increase in revenue of $51 million.
In a new SEC filing Pandora, which has an accumulated deficit of $92.1 million as of April 30, said it expects to continue to post operating losses on an annual basis through “at least” fiscal 2012.
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