Hertz Global Holdings Inc. (HTZ) experienced a significant pre-market plunge of 5.09% on Thursday. The sharp decline followed the release of the company's first-quarter financial results.

The sell-off was primarily driven by the company's reported losses for the quarter. Despite Hertz announcing its strongest revenue growth in three years and beating revenue estimates, investors focused on the substantial negative bottom-line figures.

Hertz reported a Q1 net loss of $333 million, with an adjusted net loss of $224 million and earnings per share of -$1.06. The company's adjusted EBITDA margin stood at -8%, indicating ongoing profitability challenges even as revenue reached $2,004 million against estimates of $1,885 million.