RALEIGH — PRA Health Sciences Inc. reported a 29.3 percent increase in earnings for the third quarter of 2018, according to a company filing made last Wednesday.

Adjusted net income for the third quarter was $74.8 million. The company reported earnings per diluted share of $1.13, up 28.4 percent from the third quarter of 2017. The results were over analyst’s expectations of $1.07 per share.

Revenue for the third quarter, calculated in accordance with the company’s new accounting guidelines, totaled $717.6 million, up 23.3 percent from this time last year.

Revenue excluding the new accounting rule was recorded at $572.9 million.

“We are delighted to have delivered another quarter with strong financial results on many fronts,” said Chief Executive Officer Colin Shannon in the release. “Our financial performance reflects our commitment to client delivery and the efforts of our employees.”

PRA Health Sciences, based in Raleigh, is one of the world’s largest contract research organizations. Founded in 1976, the company moved its global headquarters to Raleigh in 2008.

PRA stock was trading at $100.49 per share on Friday, up 1.3 percent from the day prior.

This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism