On July 23, Medpace rose 18.34% in pre-market trading, trading at $620.04/share. The surge was driven by the company's strong second-quarter financial results that comprehensively exceeded market expectations, coupled with an upward revision to full-year guidance.

Specifically, Medpace reported Q2 EPS of $4.25, beating the analyst consensus estimate of $3.97 by 7.05%, representing a 37.1% increase over $3.10 per share in the year-ago quarter. Revenue reached $707.3 million, surpassing the expected $687.6 million and up from $603.3 million a year earlier. New business awards totaled $795.7 million, up 28.2% year-over-year, resulting in a net book-to-bill ratio of 1.13x.

For full-year guidance, the company expects revenue of $2.81 billion to $2.89 billion, above the FactSet estimate of $2.77 billion, and EPS of $17.25 to $17.95, exceeding the consensus estimate of $16.97.

Medpace is a global leading clinical contract research organization specializing in Phase I through Phase IV clinical development services for the biotechnology, pharmaceutical, and medical device industries, with particular strength in oncology and metabolic diseases.

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