12:29 PM EDT, 08/07/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph)

Veracyte's ( VCYT ) shares surged 39% in recent trading Wednesday, a day after the company posted higher Q2 non-GAAP earnings and revenue that also beat estimates.

The company on Tuesday reported Q2 non-GAAP earnings of $0.30 per diluted share, up from $0.12 a year earlier.

Four analysts surveyed by Capital IQ expected a loss of $0.01.

Revenue for the quarter ended June 30 was $114.4 million, up from $90.3 million a year earlier.

Analysts polled by Capital IQ expected $100.2 million.

The company now expects full-year 2024 revenue of $432 million to $438 million, up from its prior guidance of $402 million to $410 million. Analysts surveyed by Capital IQ expect $421.4 million.

Price: 30.34, Change: +8.52, Percent Change: +39.02