November 2, 2017 / 8:10 PM / 21 days ago

Pandora posts bigger quarterly loss, shares drop

Nov 2 (Reuters) - Pandora Media Inc reported a bigger third-quarter loss on Thursday due to higher expenses as the online music streaming service provider spent heavily to attract new customers, sending its shares down more than 10 percent in trading after the bell.

Net loss available to common stockholders increased to $84.6 million, or 34 cents per share, in the quarter ended Sept. 30, from $61.5 million, or 27 cents per share, a year earlier.

Revenue rose to $378.6 million from $351.9 million. (Reporting by Laharee Chatterjee in Bengaluru; Editing by Savio D‘Souza)

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