Pandora (P) unleashed key audience metrics on Monday that show the digital radio provider is continuing to improve its market share despite earlier doubts in its ability to do so.
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The Oakland, Calif.-based company said listener hours for Pandora during December grew by 54% to 1.39 billion from 906 million in the year-earlier period.
Pandora’s share of total U.S. radio listening last month was up 7.19%, compared with just 4.71% in the 2011 period. Active listeners jumped 41% to 67.1 million from 47.6 million.
The numbers come just four weeks after Pandora’s stock plummeted 20% in one day following weaker-than-expected revenue projections for the fiscal fourth quarter ending in January.
Shares of Pandora traded virtually flat Monday morning around $10.37.