11:19 AM EDT, 05/02/2024 (MT Newswires) -- Itron's ( ITRI ) shares rose more than 7% in recent Thursday trading after the company's Q1 results exceeded market expectations.

The technology firm reported Q1 non-GAAP earnings of $1.24 per diluted share, up from $0.49 a year earlier.

Analysts polled by Capital IQ expected $0.84.

Revenue for the quarter ended March 31 was $603.4 million, up from $494.6 million a year ago.

Analysts surveyed by Capital IQ expected $579.4 million.

The company said it expects Q2 non-GAAP diluted EPS of $0.90 to $1 on revenue of $595 million to $605 million. Analysts polled by Capital IQ expect normalized EPS of $0.85 on revenue of $583.5 million.

Price: 98.54, Change: +7.00, Percent Change: +7.65