Bank Bradesco SA (BBD) shares soared 5.29% in pre-market trading on Thursday following the release of its better-than-expected first-quarter earnings report. The Brazilian banking giant reported adjusted earnings per share of 10 cents for the quarter ended March 31, surpassing the mean analyst expectation of 9 cents per share.

The company's financial performance showed significant improvement compared to the same period last year. Banco Bradesco's quarterly revenue rose 4.7% to $3.82 billion, reflecting the bank's resilience in a challenging economic environment. The reported net income for the quarter stood at an impressive $957.9 million, further solidifying the bank's strong financial position.

Investors seem to be responding positively to Banco Bradesco's consistent performance and growth trajectory. The stock has already gained 23.0% year-to-date, and this quarter alone has seen a 5.4% increase prior to today's pre-market surge. While the current average analyst rating on the shares is "hold," with a median 12-month price target of $2.55, the strong Q1 results may lead to potential upgrades in the near future.