NEW YORK (AP) _ Medidata Solutions Inc. (MDSO) on Tuesday reported second-quarter profit of $16.6 million.

On a per-share basis, the New York-based company said it had net income of 27 cents. Earnings, adjusted for one-time gains and costs, came to 43 cents per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.

The research software maker posted revenue of $155.9 million in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $156 million.

Medidata expects full-year revenue in the range of $624 million to $648 million.

Medidata shares have climbed 39 percent since the beginning of the year. The stock has climbed 18 percent in the last 12 months.


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