Shares of Pitney Bowes (PBI) surged 8.55% during intraday trading on Thursday, building on the momentum from a strong pre-market performance. The significant uptick comes in the wake of the company's impressive first-quarter earnings report, which exceeded analyst expectations despite challenging market conditions.

Pitney Bowes, a global shipping and mailing company, reported adjusted earnings of $0.33 per share for the quarter ended March 31, substantially outperforming the mean analyst estimate of $0.27 per share. This marks a notable improvement from the same quarter last year when the company posted an adjusted loss of $0.01 per share. The company's net income for the quarter reached $35.42 million, translating to a reported EPS of $0.19.

While Pitney Bowes experienced a 40.6% year-over-year decline in revenue to $493.42 million, slightly missing the analyst consensus of $497.91 million, investors appeared to focus on the earnings beat. The company's ability to deliver strong bottom-line results despite the revenue contraction suggests effective cost management and operational efficiency. This performance adds to Pitney Bowes' positive trajectory, with the stock having gained 25.0% year-to-date prior to this earnings announcement. As the company continues to navigate a transforming business landscape, market participants will be closely monitoring its ability to maintain this positive momentum in the coming quarters.