UPDATE 2 4:30 ET - Pandora stock was up 8.61% at the close of trading Tuesday, a day after the company's CFO shared stats showing continued growth in the weeks after iTune's Radio launched.
Pandora listening hours grew 9% in October, despite the September launch of Apple's iTunes Radio, Pandora CFO Michael Herring shared at a Morgan Stanley conference yesterday. Pandora’s share of U.S. radio listening grew to 8.06% percent in October, up from 7.77% just prior to iTunes Radio debut, according Herring.
More new Pandora stats:
- Pandora streamed 1.47 billion hours of music in October
- Active users fell slightly 70.9 million from the previous month when the company reported 72.7 million active listeners
- Apple has said that 11 million users tried iTunes Radio in month since its mid-September luanch.