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What: Shares of digital marketer ValueClick (Nasdaq: VCLK) were flying high today, gaining as much as 20% in intraday trading after the company reported first-quarter results.

So what: After the market closed yesterday, ValueClick released its financials for the first quarter and investors liked what they saw. Revenue jumped 22% from the first quarter of last year to $117 million while earnings per share increased from $0.14 in 2010 to $0.21. Wall Street estimates expected the company to report $0.18 in EPS on $114 million in revenue.

Now what: ValueClick also provided investors with guidance for the second quarter. An EPS range of $0.19 to $0.20 and a revenue range of $120 million to $122 million put the company's estimates roughly in line with the average Wall Street estimate of $0.20 in per-share profit on $120 million in revenue. According to management, the company is looking for continued growth through its organic growth initiatives as well as its recent acquisition of Greystripe.

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Fool contributor Matt Koppenheffer does not have a financial interest in any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.