Updated: Thursday, 07 Mar 2013, 5:43 PM EST
Published : Thursday, 07 Mar 2013, 5:43 PM EST
OAKLAND, Calif. (AP) — Pandora Media Inc. Chief Executive Joseph Kennedy is stepping down.
The company announced the change Thursday after reporting fourth-quarter results that showed a narrower loss and higher revenue than analysts expected.
Shares jumped $2.23, or 19 percent, to $13.96 in after-hours trading on the news.