Medidata: 2Q Earnings Snapshot
NEW YORK (AP) _ Medidata Solutions Inc. (MDSO) on Monday reported second-quarter earnings of $7.9 million.
The New York-based company said it had profit of 13 cents per share. Earnings, adjusted for one-time gains and costs, came to 48 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The research software maker posted revenue of $180.5 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $180 million.
Medidata shares have increased 35% since the beginning of the year. The stock has increased 4.5% in the last 12 months.