10:01 AM EDT, 05/07/2024 (MT Newswires) -- Vivid Seats ( SEAT ) shares gained nearly 5% in recent Tuesday trading after the company reported higher Q1 revenue and reiterated its guidance for 2024 revenue.

The entertainment ticket reselling company reported Q1 net income of $10.7 million, down from $30.3 million a year earlier. Analysts polled by Capital IQ expected $16.6 million.

Revenue for the quarter ended March 31 was $190.9 million, up from $161.1 million a year earlier. Analysts surveyed by Capital IQ expected $182.4 million.

Vivid Seats ( SEAT ) said it continues to expect 2024 revenue of $810 million to $840 million. Analysts surveyed by Capital IQ expect $823.2 million.

Price: 5.75, Change: +0.26, Percent Change: +4.74