Biogen (BIIB.US) shares are climbing on Wednesday, rising more than 5% in the session.

For the second quarter, the company reported revenue of $2.7 billion, which grew 3.8% year-over-year and exceeded consensus estimates by $240 million. Earnings per share came in at $3.60, beating expectations by $1.57. The quarterly revenue and adjusted earnings both surpassed analyst forecasts, driven by growth from recently acquired medications for kidney and eye diseases, which successfully offset a decline in sales from its multiple sclerosis (MS) drug portfolio.

Additionally, Biogen raised its full-year revenue outlook, now anticipating sales to grow by a mid-single-digit percentage, rather than the previously forecasted decline of a mid-single-digit percentage. However, the company lowered its adjusted earnings guidance to reflect costs and milestone payments associated with acquisitions.