Shares of CareDx (NASDAQ:CDNA) surged 15.36% in after-hours trading on Tuesday following the company's release of better-than-expected third-quarter financial results. The transplant diagnostics company significantly outperformed analyst expectations on both earnings and revenue fronts.

CareDx reported adjusted earnings per share of $0.28 for the third quarter, handily beating the analyst consensus estimate of $0.14 by 97.18%. This represents a 100% increase from the $0.14 per share earned in the same period last year. The company's quarterly revenue came in at $100.055 million, surpassing the analyst projection of $95.251 million by 5.04% and marking a 20.72% year-over-year growth from $82.883 million.

The strong financial performance demonstrates CareDx's continued momentum in the transplant care market. Investors appear to be reacting positively to the company's ability to exceed expectations and deliver substantial growth, both in terms of profitability and top-line expansion. As the company continues to innovate in transplant diagnostics and patient care solutions, the market seems optimistic about CareDx's future prospects, as reflected in the significant after-hours stock price increase.