Pandora Media Inc (P) reported better-than expected revenue and raised its outlook on strong quarterly advertising sales.

The online streaming music service said on Wednesday revenue jumped 51 percent to $101.3 billion, beating analysts' expectations of $100.94 million, according to Thomson Reuters I/B/E/S.

It reported a quarterly loss of 3 cents per share versus a loss of 4 cents per share in the same quarter a year ago.

The company raised its full-year revenue forecast to a range of $425 million to $432 million from a range of $420 million to $427 million.