TELUS International (Cda) Inc. (TIXT) shares are soaring 5.64% in pre-market trading on Friday, following the release of its impressive first-quarter earnings report. The company's performance exceeded analyst expectations on both earnings per share and revenue fronts, sparking investor enthusiasm.
TELUS International reported quarterly earnings of $0.06 per share, surpassing the analyst consensus estimate of $0.05 by 20%. While this represents a 72.73% decrease compared to the same period last year, when earnings were $0.22 per share, the better-than-expected result has clearly pleased investors. On the revenue side, the company posted quarterly sales of $670.00 million, beating the analyst consensus estimate of $653.24 million by 2.57%. This figure also marks a 1.98% increase from the $657.00 million reported in the same quarter last year.
The market's positive reaction to TELUS International's earnings beat suggests that investors are focusing on the company's ability to outperform expectations in a challenging economic environment. Despite the year-over-year earnings decline, the company's revenue growth and its success in exceeding analyst projections on both top and bottom lines are likely driving the stock's pre-market surge. As the trading day progresses, it will be interesting to see if this upward momentum continues and how it might impact the company's longer-term stock performance.