ZipRecruiter Inc. (NYSE: ZIP) shares are soaring 9.40% in intraday trading, as the company reported better-than-expected first-quarter results. The online employment marketplace provider managed to outperform analyst estimates on both earnings per share and revenue, despite facing a challenging year-over-year comparison.

According to the company's latest earnings report, ZipRecruiter posted a quarterly loss of $(0.13) per share, beating the analyst consensus estimate of $(0.14) by 7.14%. While this represents a wider loss compared to the $(0.07) per share reported in the same period last year, it still surpassed market expectations. On the revenue front, the company reported $110.10 million, slightly above the analyst consensus estimate of $109.30 million. However, this figure marks a 9.92% decrease from the $122.23 million reported in the same quarter of the previous year.

The market's positive reaction to ZipRecruiter's earnings suggests that investors are encouraged by the company's ability to exceed expectations in a challenging economic environment. Despite the year-over-year revenue decline, the better-than-anticipated results indicate that ZipRecruiter may be effectively managing its operations and maintaining its competitive position in the job search and recruitment sector. As the labor market continues to evolve, the company's performance will be closely watched by investors looking for signs of recovery and growth in the employment services industry.