Exelixis (EXEL) reported Q2 adjusted earnings late Wednesday of $0.91 per diluted share, up from $0.75 a year earlier.
Analysts polled by FactSet expected $0.85.
Revenue in the three months ended June 30 rose to $628.7 million from $568.3 million a year earlier.
Analysts projected $636.4 million.
The company cut full-year revenue guidance to $2.5 billion to $2.55 billion from the prior forecast of $2.525 billion to $2.625 billion.
Analysts project $2.596 billion.
Exelixis shares fell 5.2% in after-hours trading.