(Reuters) - Online music streaming company Pandora Media Inc reported an 18.8 percent increase in quarterly revenue as more subscribers signed up and advertising sales rose.
Advertising revenue, which accounts for nearly three-quarters of the total revenue, rose about 27 percent in the first quarter ended March 31.
Pandora's net loss, however, widened to $48.3 million (32.07 million pounds), or 23 cents per share, in the first quarter ended March 31 from $28.9 million, or 14 cents per share, a year earlier.
Revenue rose to $230.8 million from $194.3 million.