Medidata shares soar on another record quarter in Q2

Medidata Solutions ($MDSO) grabbed record revenues of $68.1 million in the second quarter, a 27% jump from the same period a year ago. The New York City-based provider of clinical trials software showed bottom-line strength during the quarter with $8.8 million in GAAP operating income, a 55% increase from last year's second quarter. The company has been swiping business away from industry rival Oracle ($ORCL) and exceeding expectations on Wall Street for more than a year, capitalizing on efforts from Sanofi ($SNY), CROs and its other pharma customers to digitize drug development. Medidata shares have shot up 22.5% since announcing second-quarter earnings on July 25, and the stock has soared 130.5% on the year. Release