(compares with estimates; adds background, shares)
Feb 21 (Reuters) - Pandora Media Inc reported fourth-quarter revenue on Wednesday that topped Wall Street estimates as the Internet radio company added more subscribers to its platform.
Shares of the company, which has been cutting costs and making its platform more advertisers friendly, rose nearly 10 percent to $5.34 after the bell.
The company said total subscription revenue jumped 63.2 percent to $97.7 million, beating the average analysts' estimate of $94.1 million.
Total number of subscribers grew 25 percent to 5.48 million in the quarter from 4.39 million subscribers a year earlier.
Pandora's strong subscriber growth comes in the face stiff competition from deep-pocketed rivals such as Apple Inc's Apple Music, Alphabet's Google Play Music and Sweden's Spotify.
Net loss attributable to common shareholders narrowed to $52.1 million, or 21 cents per share, in the quarter ended Dec. 31, from $90 million, or 38 cents per share, a year earlier.
The company gained around $483 million in the quarter due to the changes in the U.S. tax law.
Total revenue rose to $395.3 million from $392.6 million. Excluding items, it posted a loss of 21 cents per share.
Analysts on average had expected a loss of 7 cents per share and revenue of $376.4 million. (Reporting by Laharee Chatterjee and Arjun Panchadar in Bengaluru; Editing by Arun Koyyur)