Shares of Pandora Media (NYSE:P) are up today after the company reported solid earnings. This has helped Pandora extend its positive momentum this year, with the stock up more than 200% in 2013.

Million Dollar Portfolio analyst Charly Travers likes what he sees in this report, with market share increasing and revenue up to $180 million this quarter. In addition, Charly likes that Pandora seems to be figuring out the mobile-ad market, which has been a hot topic with tech companies like Facebook and Google. He thinks Pandora's heavy investment in making users' experiences on iPad and Android tablets positive is pushing ad revenue higher, and will continue to do so going forward.

While the company is in its growth phase, Pandora won't see too much in the way of profitability, which is something that prospective investors need to keep in mind.