Medidata Solutions (MDSO) Tops Q1 EPS by 5c, Beats on Revenues

Medidata Solutions (NASDAQ: MDSO) reported Q1 EPS of $0.40, $0.05 better than the analyst estimate of $0.35. Revenue for the quarter came in at $149.2 million versus the consensus estimate of $147.05 million.

First Quarter 2018 Results

• Total revenue was $149.2 million, an increase of $21.6 million, or 17%, compared with $127.6 million in the first quarter of 2017. Subscription revenue was $126.8 million, an increase of $18.9 million, or 18%, compared with the same period last year
• Professional services revenue was $22.4 million, an increase of $2.6 million, or 13%, compared with $19.8 million in the first quarter of 2017
• GAAP operating income was $13.3 million, up 3%, compared with $12.9 million in the first quarter of 2017. Non-GAAP operating income1 was $34.2 million, up 24%, compared with $27.7 million a year ago
• GAAP net income was $10.3 million, or $0.17 per diluted share, up 3%, compared with $10.0 million, or $0.17 per diluted share, in the first quarter of 2017.
• Non-GAAP net income1 was $24.0 million, or $0.40 per diluted share, up 29%, compared with $18.7 million, or $0.32 per diluted share, in the first quarter of 2017. See the non-GAAP reconciliation included in this release for full details of the non-GAAP adjustments
• Total cash, cash equivalents and marketable securities were $645.2 million at the end of the quarter, compared with $663.3 million on December 31, 2017

For earnings history and earnings-related data on Medidata Solutions (MDSO) click here.

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