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Sponsored Links Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption In the path of Isaac Hurricane Isaac drove water over the top of a levee on the outskirts of New Orleans. Slideshow Protesting the RNC Activists shout anti-Republican slogans outside of the Republican National Convention. Slideshow Pandora Media results beat; raises outlook Tweet Share this Email Print Related News Applied Materials sees revenue drop, reviews businesses Wed, Aug 15 2012 Cisco still pessimistic on Europe, raises dividend Wed, Aug 15 2012 HP braces for huge loss after $8 billion EDS writedown Wed, Aug 8 2012 Related Topics Tech » Hot Stocks » Asian Markets » Media » Traders work at the kiosk where Pandora internet radio is traded on the floor of the New York Stock Exchange June 15, 2011. Credit: Reuters/Brendan McDermid Wed Aug 29, 2012 4:46pm EDT (Reuters) - Pandora Media Inc (P.N) reported better-than expected results and raised its outlook on strong quarterly advertising sales. Shares of the online streaming music service rose 8 percent in after-hours trading. They closed at $10.08 on Wednesday. Pandora said second-quarter revenue jumped 51 percent to $101.3 million, beating analysts' expectations of $100.94 million, according to Thomson Reuters I/B/E/S. On a Non-GAAP basis, the company broke even, besting analysts' expectations of a loss of 3 cents per share. The Oakland, California company, which is more than 10 years old, is being carefully watched as a new model for radio listening as more people use the Internet to stream music to their cars, home stereos and mobile devices. Pandora is dipping into its coffers to aggressively build out a local sales force since it largely depends on advertising revenue. Advertising revenue rose 53 percent. The company must pay for the rights to play songs, and as more people listen, the more expensive it becomes. Pandora's market share of people listening to U.S. radio is at 6 percent and growing -- in a crowded field that includes Clear Channel, Sirius XM Radio (SIRI.O) and Spotify. The company raised its full-year revenue forecast to a range of $425 million to $432 million from $420 million to $427 million. (Reporting by Jennifer Saba; Editing by Gary Hill, Bernard Orr) Tech Hot Stocks Asian Markets Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. 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