‘Remain confident:’ So says IQVIA’s top exec as life science giant beats Street

DURHAM – IQVIA beat the Street with its latest quartertly earnings report issued early Thursday, and its top exec is bullish on the future.

“The IQVIA team continues to execute well, delivering another quarter of strong operational and financial performance,” said Ari Bousbib, chairman and CEO of IQVIA, in the earnings announcement.

“We continued our R&DS bookings momentum with over $2.6 billion of net new business, delivered strong underlying organic revenue growth across our portfolio of businesses, and repurchased almost $600 million of our shares,” he explained. “Based on this performance, and despite the global macro environment, we remain confident in the outlook for IQVIA and the fundamentals of our industry.”

The life science giant (stock ticker: IQV) on Thursday reported second-quarter net income of $256 million.

IQVIA already hiring for dozens of roles at new ‘Innovation Laboratories’ facility

The company reported net income of $1.34 per share. Earnings, adjusted for one-time gains and costs, were $2.44 per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.39 per share.

The clinical testing company posted revenue of $3.54 billion in the period, also topping Street forecasts. Nine analysts surveyed by Zacks expected $3.5 billion.

For the current quarter ending in October, IQVIA expects its per-share earnings to range from $2.34 to $2.42.

The company said it expects revenue in the range of $3.52 billion to $3.57 billion for the fiscal third quarter.

IQVIA expects full-year earnings in the range of $10 to $10.20 per share, with revenue ranging from $14.4 billion to $14.55 billion.