Pandora Media

Pandora shares up on stronger 4Q outlook, job cut plans

Pandora's stock is climbing Friday after the online radio company provided a stronger fourth-quarter revenue outlook and announced plans to cut approximately 7 percent of its workforce.

Pandora said late Thursday that the job cuts, which would exclude Ticketfly, are being done to help trim overall operating costs. The Oakland, California-based company has been facing increasing competition from Spotify and Apple Inc.'s music service.

Pandora anticipates beating its previously announced forecast for fourth-quarter revenue in a range of $362 million to $374 million, citing its strong advertising performance. Analysts polled by FactSet expect $369.6 million.

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