Pandora revenue rises as advertisers spend more on streaming services

Pandora Media on Monday reported a near 10 percent rise in quart🗹erly revenue as advertisers spent more on the online music streaming service.

The company, which faces stiff competition from Spotify and Apple Music, said its net loss widened 🐓to $275.1 million, or $1.20 per share, in the second quarter ended June 30, from $76.3 million, or 33 cents per share, a year earlier.

The latest quarter’s l🔯oss included a goodwill i✅mpairment charge of $132 million.

The company’s total revꩲenue rose to $376.8 million, up f🗹rom from $343 million.

Last month, Pandora Cꦕhief Executive Tim Westergren stepped down, signaling a shake up at the company where satelliteꦗ radio company Sirius XM Holdings🐽 invested $480 million in early June.