Shares of DoubleVerify Holdings, Inc. (DV) are soaring 5.54% in Thursday's trading session following the release of the company's impressive first-quarter financial results. The digital media measurement and analytics firm reported revenue of $165.061 million, significantly surpassing the IBES estimate of $153 million.

DoubleVerify's financial performance for Q1 was robust across multiple metrics. The company's pretax profit came in at $9.522 million, beating the IBES estimate of $8.77 million. Additionally, DoubleVerify reported income from operations of $6.763 million and adjusted EBITDA of $44.7 million. However, net income for the quarter was $2.361 million, falling short of the IBES estimate of $6.6 million.

The substantial revenue beat appears to be the primary driver behind the stock's surge. Investors seem to be focusing on DoubleVerify's top-line growth and overall operational performance, despite the lower-than-expected net income. As a company operating in the rapidly evolving digital advertising space, DoubleVerify's ability to exceed revenue expectations by such a significant margin may indicate strong demand for its services and potential for future growth, which could explain the positive market reaction.