Medidata Solutions (NASDAQ: MDSO) reported Q2 EPS of $0.24, $0.01 better than the analyst estimate of $0.23. Revenue for the quarter came in at $114.6 million versus the consensus estimate of $112.39 million.

“Our second quarter results come from strong execution across the Company and reflect Medidata’s momentum in driving adoption of our integrated cloud platform,” said Tarek Sherif, Medidata’s chairman and chief executive officer. “With demand growing for Medidata CTMS, Payments, Balance and mHealth, as well as data analytics, we’re building on the success of the broadest platform in the industry, while continually delivering greater value to our clients. Today, more than ever, our ability to generate sustainable, long-term growth is driven by the large opportunity created by our clients’ innovation, scientific advances and our mission of powering smarter treatments to improve healthcare. It’s clear that Medidata is becoming the strategic technology partner to a massive and important transformation in life sciences and healthcare driven by digital automation in drug development.”

Medidata Solutions reaffirmed FY2016 guidance.

For the full-year 2016, the Company is maintaining its previously stated total revenue and profitability guidance ranges, as follows:

• Total revenue between $450.0 and $474.0 million at constant currency.
• Professional services revenue is now expected to range from $68.0 to $70.0 million, compared with the prior expectation of approximately $60.0 million. This reflects strong demand for platform adoption with several large implementations currently underway.
• GAAP operating income between $38.5 and $45.5 million. Non-GAAP operating income, which excludes the impact of depreciation, amortization of intangible assets, and stock-based compensation expense, between $102.0 and $109.0 million.
• GAAP net income between $16.5 and $21.0 million. Adjusted non-GAAP net income, which excludes the impact of stock-based compensation, non-cash interest expense associated with convertible senior notes, and amortization, tax-affected at a 40% rate, between $54.5 and $59.0 million.
• While changes in the stock price could change the fully diluted share count, the Company is now assuming 57.0 million fully diluted shares.

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