Tegna (TGNA) stock is soaring 5.01% in Thursday's intraday trading following the release of its first-quarter 2025 financial results, which exceeded analyst expectations despite a year-over-year revenue decline. The media company's strong performance in a challenging environment has impressed investors, driving the stock higher.

Tegna reported adjusted earnings per share of $0.37 for Q1, surpassing the analyst consensus estimate of $0.32 by 15.62%. While this represents a 17.78% decrease from the $0.45 per share reported in the same period last year, it still demonstrates the company's ability to outperform expectations. Revenue for the quarter came in at $680.05 million, slightly above the analyst estimate of $676.74 million, though it marks a 4.79% decrease from the $714.25 million reported in the previous year.

The company's pretax profit for Q1 stood at $73.468 million, significantly higher than the IBES estimate of $65.7 million. This strong bottom-line performance, despite the revenue decline, suggests effective cost management and operational efficiency. However, investors should note that Tegna's outlook for the second quarter indicates continued challenges, with revenue expected to be down 4% to 7%. As the market digests these mixed signals, the focus appears to be on Tegna's ability to exceed expectations in a difficult operating environment.