Medidata Solutions Earnings: Here’s Why Investors Like These Results
Medidata Solutions, Inc. (NASDAQ:MDSO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.34%.
Medidata Solutions, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 59.09% to $0.35 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Rose 25.62% to $63.26 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Medidata Solutions, Inc. reported adjusted EPS income of $0.35 per share. By that measure, the company beat the mean analyst estimate of $0.23. It beat the average revenue estimate of $61.32 million.
Quoting Management: “With Medidata’s customers increasingly relying on our Clinical Cloud platform, we had an impressive first quarter, and have set the foundation for strong performance in the remainder of 2013,” said Tarek Sherif, Medidata’s chief executive officer. “Our revenue growth is accelerating, our backlog is showing meaningful growth and our customer and revenue retention rates are impressive, all of which are indicative of the attractiveness of our platform and business model. Life science companies are rapidly moving to the cloud and away from the legacy, on-premise solutions offered by our competitors. We expect to continue to be the primary beneficiary of this transition, building value for our customers and shareholders.”
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