Amplitude Inc. (AMPL) shares soared 6.25% in pre-market trading on Thursday, following the company's impressive third-quarter earnings report that exceeded analysts' expectations. The digital analytics platform provider demonstrated resilience in a challenging market environment, showcasing its ability to drive growth and improve profitability.

The company reported adjusted earnings of 2 cents per share for the quarter ended September 30, surpassing the mean expectation of 1 cent per share from ten analysts. This performance, while lower than the 3 cents per share reported in the same quarter last year, still managed to beat Wall Street estimates ranging from 1 to 3 cents per share. Revenue also impressed, rising 17.7% to $88.56 million, outpacing analysts' expectations of $86.29 million.

Despite the positive earnings surprise, Amplitude has faced challenges in the broader market context. The company's shares had fallen by 11.6% this quarter and lost 10.1% year-to-date prior to this pre-market surge. However, the strong Q3 results appear to have reignited investor confidence. Wall Street maintains a bullish outlook on Amplitude, with the current average analyst rating on the shares being "buy" and a median 12-month price target of $16.00, representing a potential upside of approximately 39.8% from its last closing price of $9.64.