Labcorp raised its outlook for the year after it logged higher profit and revenue in the second quarter, boosted by growth in its diagnostic laboratories business.

The company on Thursday posted a profit of $298.7 million, or $3.64 a share, up from $237.9 million, or $2.84 a share, a year earlier.

Stripping out certain one-time items, earnings came in at $4.99 a share. Analysts polled by FactSet expected adjusted earnings of $4.78 a share.

Total revenue rose 5.8% to $3.73 billion, just ahead of Wall Street models for $3.71 billion.

Revenue across the company's diagnostics laboratories segment was up 5.5% to $2.9 billion.

Looking ahead, Labcorp raised its full-year adjusted earnings outlook to $18.10 to $18.55 a share, from $17.70 to $18.35 a share. The company also lifted its revenue forecast to $14.71 billion to $14.83 billion, from $14.65 billion to $14.8 billion.

Analysts are looking for adjusted earnings of $18.02 a share on revenue of $14.71 billion.