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Medidata: 1Q Earnings Snapshot

NEW YORK (AP) _ Medidata Solutions Inc. (MDSO) on Tuesday reported first-quarter profit of $11.1 million.

The New York-based company said it had net income of 18 cents per share. Earnings, adjusted for one-time gains and costs, came to 45 cents per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

The research software maker posted revenue of $173.5 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $172.1 million.

Medidata shares have increased 35% since the beginning of the year. The stock has climbed 28% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MDSO at https://www.zacks.com/ap/MDSO