Medpace rockets on earnings beat, guidance raise

Medpace, a clinical trials company, rose nearly 60% in early trading after it reported second-quarter earnings that crushed analysts’ estimates.

The company reported earnings per share of $3.10, compared to the $2.98 analysts polled by FactSet were expecting. It also reported revenue of $603 million, up from the $539 million analysts were penciling in.

Medpace now expects to report full-year earnings per share of up to $14.53, up from its previous guidance of as much as $13.04.

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