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Shares of Pandora Media (NYSE:P) plunged more than 12 percent in late afternoon hours, but recovered a large portion of the losses. The Internet radio company reported better-than-expected quarterly earnings, but provided a weak outlook. “Our second fiscal quarter was an important inflection point in Pandora’s history. Strong momentum in our mobile business, with non-GAAP total mobile revenue growing 92 percent year-over-year to $116 million, clearly demonstrates the leverage in Pandora’s business model,” said Joe Kennedy, chairman and chief executive officer.