Shares of Exelixis (NASDAQ:EXEL) surged 6.63% in after-hours trading on Tuesday following the release of its first-quarter 2025 financial results, which significantly exceeded analyst expectations. The biopharmaceutical company also raised its full-year guidance, further fueling investor optimism.

Exelixis reported a stellar performance for Q1 2025, with revenue reaching $555.4 million, marking a 30.62% increase from the same period last year and surpassing the analyst consensus estimate of $498.18 million by 11.50%. The company's adjusted earnings per share (EPS) came in at $0.62, dramatically beating the analyst estimate of $0.36 by 72.22% and showing a remarkable 264.71% increase from $0.17 per share in Q1 2024.

Adding to the positive sentiment, Exelixis raised its financial guidance for the fiscal year 2025. The company now anticipates total revenues to be in the range of $2.25 billion to $2.35 billion, up from the previous guidance of $2.15 billion to $2.25 billion. Similarly, net product revenues are expected to reach between $2.05 billion and $2.15 billion, an increase from the earlier forecasted range of $1.95 billion to $2.05 billion. This upward revision in guidance reflects the company's confidence in its growth trajectory and operational performance.

The strong quarterly results and improved outlook demonstrate Exelixis' continued success in executing its business strategy and capitalizing on the growing demand for its products. Investors appear to be responding positively to the company's ability to outperform expectations and its optimistic view of future growth prospects, as reflected in the significant after-hours stock price movement.