NEW YORK (TheStreet) -- Blue Buffalo Pet Products (BUFF) stock is rising by 11.11% to $19 in after-hours trading on Thursday after the company's 2015 third quarter earnings results beat analysts' expectations.

After the market close on Thursday, the Wilson, CT-based pet food company reported third quarter earnings of 17 cents per share. Revenue increased by 10.5% year over year to $259 million. 

Analysts surveyed by Zacks Investment Research were expecting the company to report earnings of 14 cents per share on revenue of $258.6 million. 

Blue Buffalo raised its 2015 earnings outlook to 60 cents per share from 58 cents per share. 

"We gained market share, expanded into new markets, improved our margins and continued to invest for the future," CEO Kurt Schmidt said in a statement. 

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