DURHAM – Iqiva CEO Ari Bousbib had multiple reasons for being very positive about the latest quarterly financial report, describing it as “strong.”
Iqvia (IQV) on Thursday reported first-quarter earnings of $289 million.
The Durham, North Carolina-based company said it had net income of $1.53 per share. Earnings, adjusted for one-time gains and costs, came to $2.45 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.41 per share.
The clinical testing company posted revenue of $3.65 billion in the period, also topping Street forecasts. Nine analysts surveyed by Zacks expected $3.61 billion.
IQVIA expects full-year earnings in the range of $10.26 to $10.56 per share, with revenue in the range of $15.15 billion to $15.4 billion.
“IQVIA delivered another quarter of strong operational and financial results, including strong underlying revenue growth, margins and cashflow,” said Bousbib in a statement. “Industry demand remains healthy, as reflected in our $2.6 billion of bookings in the quarter and record RFP flow. While there continues to be some customer cautiousness in discretionary spending, the scale of our business, the breath of our differentiated offerings, and the resilience of our long cycle business support our strong underlying organic growth momentum.”
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