Can Pro Tools be used for audio manipulation and mashups?

I recently purchased Pro Tools 11 since I'm about to pursue a music degree, but I was also wondering if I could use the software for creating mashups. I've been using Audacity for years, and while I like interface, the final track loses so much quality during the export, and I've been looking for a high end program to replace it for a few months now.



Also, can Pro Tools 11 read more obscure audio files such as ogg vorbis, brstm, etc? Any help provided is greatly appreciated.