On July 31, Guardant Health Inc. rose 6.33% in after-hours trading, trading at $163.5/share, with turnover of $35.02 million. The surge was driven by the company's Q2 earnings release, which featured revenue significantly above consensus and an upward revision to full-year guidance.

Guardant Health reported Q2 revenue of $335.0 million, up 44.3% year-over-year, comfortably beating the analyst consensus estimate of $314.2 million. Adjusted loss per share came in at $0.42, narrowing from $0.44 in the prior-year quarter. The company raised its full-year revenue outlook to $1.34 billion–$1.36 billion, up from $1.30 billion–$1.32 billion previously, surpassing the FactSet estimate of $1.31 billion.

The strong results come amid multiple recent catalysts, including FDA approval of Guardant360 Liquid CDx as a companion diagnostic for non-small cell lung cancer therapy, inclusion of the Shield blood test in American Cancer Society colorectal screening guidelines, and several analyst target price increases from institutions including BofA Securities and RBC Capital Markets.

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