06:02 AM EDT, 05/16/2024 (MT Newswires) -- (Updates with the stock move in the headline and first paragraph.)

ZTO Express ( ZTO ) shares surged more than 11% in recent premarket activity on Thursday after the company reported higher adjusted earnings and sales in Q1.

The company reported Q1 adjusted earnings late Wednesday of 2.68 Chinese renminbi ($0.37) per diluted American depositary share, up from 2.33 renminbi a year earlier.

Four analysts polled by Capital IQ expected 2.35 renminbi.

Revenue for the quarter ended March 31 was 9.96 billion renminbi, up from 8.98 billion renminbi a year earlier.

Analysts surveyed by Capital IQ expected 9.24 billion renminbi.

Price: 23.80, Change: +2.41, Percent Change: +11.27