Pandora Media Inc. shares rose more than 7% in the extended session Thursday after the company logged smaller-than-expected losses. Pandora stock rose 2.4% to $5.77 during regular trading. The company reported first-quarter net losses of $139.1 million, or 55 cents a share, compared with losses of $132.3 million, or 56 cents a share, in the year-ago period. Adjusted losses were 27 cents a share. Revenue rose to $319.2 million from $315 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted losses of 38 cents a share on revenue of $304 million. The company said it would disclose guidance during the first-quarter earnings call at 5 p.m. Eastern. For the second quarter, analysts model adjusted losses of 15 cents a share on sales of $374 million. Pandora stock has gained 20% this year, with the S&P 500 index falling 1.4%.