Pandora Shares Plunge as It Warns of Losses

Pandora Media Inc. projected slower revenue growth and red ink in the current quarter, triggering a 19 percent plunge in the shares of the Internet radio company.

Joe Kennedy, the company’s chief executive, blamed its disappointing outlook for the fourth fiscal period on a cautious attitude about spending among Pandora’s advertisers, shaped by worries about the impending “fiscal cliff” in Washington and other economic concerns.

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