Tech stocks: Pandora soars on solid earnings

It appears Pandora's earnings are music to Wall Street's ears.

Shares of the online streaming music service are up 11% in pre-market trading Friday despite growing losses during its first quarter.

Pandora reported losses of more than $28 million last quarter, compared to $20 million at the same time a year ago. However, the company's total revenue jumped 55%, while revenues from mobile nearly doubled.

Pandora shares have surged since hitting a 52-week low of $7.18 in mid-November. It's more than doubled its value, approaching the $20 mark.