Medidata Solutions (Nasdaq: MDSO) reported earnings on May 1. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Medidata Solutions beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share expanded.

Gross margins expanded, operating margins expanded, and net margins contracted.

Revenue details
Medidata Solutions reported revenue of $50.4 million. The eight analysts polled by S&P Capital IQ foresaw sales of $49.1 million on the same basis. GAAP reported sales were 24% higher than the prior-year quarter's $40.8 million.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.15. The seven earnings estimates compiled by S&P Capital IQ predicted $0.13 per share. GAAP EPS of $0.15 for Q1 were 15% higher than the prior-year quarter's $0.13 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 71.0%, 310 basis points better than the prior-year quarter. Operating margin was 12.1%, 360 basis points better than the prior-year quarter. Net margin was 7.5%, 30 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $52.8 million. On the bottom line, the average EPS estimate is $0.20.

Next year's average estimate for revenue is $211.5 million. The average EPS estimate is $0.78.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 44 members rating the stock outperform and three members rating it underperform. Among 11 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), all 11 give Medidata Solutions a green thumbs-up, and none give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Medidata Solutions is outperform, with an average price target of $26.86.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.