Pitney Bowes' Q1 earnings and revenues exceed expectations, causing shares to surge 24%.

Pitney Bowes shares surge 24% after the company reported better-than-expected Q1 earnings and revenue. The shipping and mailing company reported an adjusted EPS loss of $0.01, narrower than the $0.04 consensus, and $830.5M revenues, exceeding the $796.99M street view. Q1 net income was a $3M loss, an improvement from the prior year. Pitney Bowes expects savings from its 2023 restructuring plan to exceed the $75M-$85M target.