Magnite, Inc. (NASDAQ: MGNI) saw its stock surge 7.45% in intraday trading on Thursday, building on the momentum from its pre-market rally. The significant uptick follows the release of the company's exceptional first-quarter 2025 financial results, which substantially surpassed analyst expectations.

The advertising technology firm reported adjusted earnings per share of $0.12 for Q1, impressively beating the analyst consensus estimate of $0.07 by 71.43%. This represents a remarkable 140% increase from the $0.05 per share reported in the same period last year. Magnite's quarterly revenue also exceeded expectations, coming in at $155.77 million, surpassing the analyst estimate of $144.20 million by 8.02% and marking a 4.32% year-over-year increase.

Other notable financial highlights include a gross profit of $93 million and adjusted EBITDA of $36.8 million, with the latter outperforming the estimate of $30 million. The adjusted EBITDA margin stood at an impressive 25%. However, investors should note that Magnite reported a net loss of $9.6 million for the quarter. Despite the strong results, the company has adopted a more cautious approach to its outlook and guidance, citing tariff-driven economic uncertainty. As the market continues to react to this information, it will be interesting to see how Magnite's stock performs in the coming days.