CINCINNATI (AP) _ Medpace Holdings Inc. (MEDP) on Tuesday reported first-quarter profit of $29 million.
The Cincinnati-based company said it had net income of 76 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The provider of outsourced clinical development services posted revenue of $230.9 million in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $228.1 million.
Medpace shares have climbed nearly 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $85.66, a rise of 48% in the last 12 months.