12:36 PM EDT, 08/07/2024 (MT Newswires) -- (Updates with stock move in the headline and first paragraph.)

Exelixis ( EXEL ) shares advanced nearly 15% in recent Wednesday trading after the company reported Q2 non-GAAP diluted earnings late Tuesday of $0.84 a share, up from $0.31 a year earlier.

Analysts surveyed by Capital IQ expected $0.37.

Revenue for the quarter ended June 30 was $637.2 million, up from $469.8 million a year earlier.

Analysts polled by Capital IQ expected $465.1 million.

The company now expects fiscal 2024 revenue of $1.98 billion to $2.08 billion. It previously expected $1.83 billion to $1.93 billion of revenues.

Analysts surveyed by Capital IQ expect $1.88 billion.

Price: 26.94, Change: +3.49, Percent Change: +14.88